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c) What is the present value of an annuity of $70,000 to be received at the end of each year for 10 years given a

c) What is the present value of an annuity of $70,000 to be received at the end of each year for 10 years given a 10 percent discount rate? [05 Marks] Present Value = PMT (1+i) PMT = annuity payment deposited or received i=discount rate (or interest rate) n = number of periods

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