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I'm unsure where to start here - I realize I should use the present value=annuity/(1+rate)^T but where do I go from there? Thank you! An

I'm unsure where to start here - I realize I should use the present value=annuity/(1+rate)^T but where do I go from there?

Thank you!

An investor has purchased an investment which offers him 20 annual payments of $1,000 per

year. The payments start two years from today. Interest rates are 10%. What is the present value

of this investment?

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