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My nephew has promised to repay a loan by making $1,200.00 payments in April of each of the next 5 years. Using the Present Value

My nephew has promised to repay a loan by making $1,200.00 payments in April of each of the next 5 years. Using the Present Value Table found in Appendix 13-A on page 141, and assuming an interest rate of 5%, what is the value of these payments?

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