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Find the PV of an ordinary annuity that pays $ 1 , 0 0 0 at the end of each of the next 8 years

Find the PV of an ordinary annuity that pays $

1, 000

at the end of each of the next

8

years if the interest rate is

4 % .

Find the PVA of the annuity using the Excel function

(

reference the cells

) (5

points

)

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