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If you calculate the variable y in the following equation: y= C*[(1+r)^N-1/r] the y is the: a. present value of the annuity payment C b.

If you calculate the variable y in the following equation: y= C*[(1+r)^N-1/r]

the y is the:

a. present value of the annuity payment C

b. present value of the lump sum amount C

c. future value of the lump sum amount C

d. APR of the loan

e. future value of the annuity payment C

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