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Max receives $300 in 1 year, $350 in 2 years, $400 in 3 years, and so on until the final payment of $800. Using an
Max receives $300 in 1 year, $350 in 2 years, $400 in 3 years, and so on until the final payment of $800. Using an annual effective rate of interest of 4%, find the present value of these payments at time 0
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