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Find the present value of 5 annual payments of $ 8 0 per annum where the first payment is made 1 year from now. So

Find the present value of

5

annual payments of $

80

per annum where the first payment is made

1

year from now. So there are

5

annual payments from t

= 1

to t

= 5

inclusive. The discount rate is

19 %

.

The present value of these payments is:

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