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Katie is planning to receive an annuity of $ 7 , 5 4 5 per year for the next 3 8 years as part of

Katie is planning to receive an annuity of $7,545 per year for the next 38 years as part of her retirement plan. The interest rate is 0.06 per annum compounded annually. Calculate the present value (PV) of this annuity
$6,191.79
$1,484.60
$4,920.36
$5,190,960.00
$112,013.21
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