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Determine the present value of an ordinary annuity of $1000 per y ear for 10 years, assuming it earns 10%. Assume that the first cash
Determine the present value of an ordinary annuity of $1000 per y ear for 10 years, assuming it earns 10%. Assume that the first cash flow from the annuity comes at the end of Year 8 and the final payment at the end of year 17. that is, no payments are made on the annuity at the end of Years 1-7. Instead, annual payments are made at the end of Years 8-17
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