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F4a What is the value today of a 15-year annuity that pays $630 a year? The annuity's first payment occurs six years from today. The

F4a

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What is the value today of a 15-year annuity that pays $630 a year? The annuity's first payment occurs six years from today. The annual interest rate is 11 percent for Years 1 through 5, and 13 percent thereafter. (Do not round intermediate calculations and round your final answer to 2 decimal places, (e.g., 32.16))

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