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Differed Ordinary Simple Annuity: Payment of $1000 are due at the end of each year for 15 Years. If annuity is differed for 5 years,

Differed Ordinary Simple Annuity: Payment of $1000 are due at the end of each year for 15 Years. If annuity is differed for 5 years, and the interest is 8% compounded quarterly. Determine the present value of the deferred annuity

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