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Find the present value (one period before the first payment) of an annulty-Immediate that lasts five years and pays $6,000 at the end of each
Find the present value (one period before the first payment) of an annulty-Immediate that lasts five years and pays $6,000 at the end of each month, using a nominal interest rate of 9% convertible monthly. (Round your answer to the nearest cent.) Repest the problern using an annual effectlve discount rate of 9%. (Round your answer to the nearest cent.)
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