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Given a 7 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,050, $1,250, $1,250, and
Given a 7 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,050, $1,250, $1,250, and $1,550. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
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