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j . What is the present value of an annuity of $ 1 , 5 0 0 per year for 1 0 years, with the

.

What is the present value of an annuity of $

1, 500

per year for

10

years, with the first payment occurring at the end of year

10 (

that is

,

ten $

1, 500

payments occurring at the end of year

10

through year

19),

given a discount rate of

16

percent?

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