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An ordinary annuity selling at $ 2 , 5 1 4 . 1 5 today promises to make equal payments at the end of each
An ordinary annuity selling at $ today promises to make equal payments at the end of each year for the next eight years If the annuity's appropriate interest rate I remains at during this time, the annual annuity payment PMT will be
You just won the lottery. Congratulations! The jackpot is $ paid in eight equal annual payments. The first payment on the lottery jackpot will be made today, In present value terms, you really won assuming annual interest rate of Note: Round intermediate calculations to the nearest whole number.
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