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Consider an annuity that pays $ 8 0 0 per year for 1 2 years. The first payment happens a year later ( at time
Consider an annuity that pays $ per year for years.
The first payment happens a year later at time node
The last payment happens years later at
There are a total of payments
What is the present value of the annuity today at with an expected return of per year?
Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal eg for $ type
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