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For each of the following cases, calculate the present value of the annuity, assuming the annuity cash flows occur at the end of each year.

For each of the following cases, calculate the present value of the annuity, assuming the annuity cash flows occur at the end of each year.

Annuity

Interest

Rate (%)

Period (Yrs)

Present

Value ($)

38,000

17

3

21,000

4

11

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