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

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Beginning in 7 years, (end of years 7, 8 and 9) Sally Mander will receive three annual benefit checks of $12,000 each. If Sally assumes an interest rate of 5%, what is the present value of these checks? $28,260 $26,235 $24,396 $22,469

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