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A growing annuity pays $700 at the end of the first year. The payment grows 5% per year till the end of the sixth year.

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A growing annuity pays $700 at the end of the first year. The payment grows 5% per year till the end of the sixth year. What is the present value for the six-year growing annuity if the discount rate is 5967 O A. $6,000 O B. Cannot be known O C. $5,000 O D. $4,000

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