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Drill Problem 13-6 (Algo) Complete the following for the present value of an ordinary annuity. (Use Table 13.2.) (Do not round intermediate calculations. Round your

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Drill Problem 13-6 (Algo) Complete the following for the present value of an ordinary annuity. (Use Table 13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount of annuity expected Payment Time Interest rate Present value (amount needed now to invest to receive annuity) $ 16,000 Quarterly 5 years 8 %

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