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Find the present value of an annual annuity where the first cash flow will be 1 1 months from today. There are 1 5 cash

Find the present value of an annual annuity where the first cash flow will be

11

months from today. There are

15

cash flows in all, each in the amount of $

5, 000 .

The APY is

23 %

per year. Show your work and highlight your final answers. Keep four decimal places.

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