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Calculate the present value. You pay $10,000 today for an annuity that pays $1100 at the end of each of the next 15 years. Use

Calculate the present value.

You pay $10,000 today for an annuity that pays $1100 at the end of each of the next 15 years. Use an interest rate of 6% and don't forget the $10,000 cost today.

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