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Beginning in 6 years, (beginning of years 6, 7,8 and 9) Sally Mander will receive four annual benefit checks of $12,000 each. If Sally assumes

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Beginning in 6 years, (beginning of years 6, 7,8 and 9) Sally Mander will receive four annual benefit checks of $12,000 each. If Sally assumes an interest rate of 7%, what is the present value of these checks? O $20,875 O $22,905 $24,510 O $28,980

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