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Consider an annuity with six $1,500 payments, with the first payment occurring one year from now. Based on the current interest rate, the PV of

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Consider an annuity with six $1,500 payments, with the first payment occurring one year from now. Based on the current interest rate, the PV of the annuity is $7,280.00 and the FV is $10,573.84. What will happen to the PV and FV if the interest rate doubles? PV will decrease: FV will increase PV will increase: FV will increase PV will increase: FV stays the same PV will increase; FV will decrease PV will decrease; FV will decrease PV will decrease; FV will stay the same

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