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Carol has a 10-year annuity with payments of $200. The interest rate is 8% and she will receive a $1,000 lump sum payment at the

Carol has a 10-year annuity with payments of $200. The interest rate is 8% and she will receive a $1,000 lump sum payment at the end of the annuity.

What is the present value of Carol's annuity?

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