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An annuity with monthly payments has 4 payments of 12, followed by two months without payments followed by two more months with payments of 12.

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An annuity with monthly payments has 4 payments of 12, followed by two months without payments followed by two more months with payments of 12. The value of annuity two months before the first payment using i(12) = 9% is: 69.81 45.58 73.15 69.29 0 47.21

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