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An ordinary annuity selling at $7,991.49 today promises to make equal payments at the end of each year for the next eight years (N). If

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An ordinary annuity selling at $7,991.49 today promises to make equal payments at the end of each year for the next eight years (N). If the annuity's appropriate interest rate (1) remains at 6.50% during this time, the annual annuity payment (PMT) will be

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