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B.5 An annuity pays $50 every three months for 10 years, with the first payment made today. The annual effective interest rate is 8%. Calculate

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B.5 An annuity pays $50 every three months for 10 years, with the first payment made today. The annual effective interest rate is 8%. Calculate the present value of the annuity. (a) 1059.73 (b) 1358.47 (c) 1381.63 (d) 1395.13 (e) 1408.47

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