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Ordinary annuity and present value You have a sub-contracting job with a local manufacturing firm. Your agreement calls for annual payments of $45,000 for the

Ordinary annuity and present value You have a sub-contracting job with a local manufacturing firm. Your agreement calls for annual payments of $45,000 for the next 5 years. At a discount rate of 8.6 percent, what is the job with to you today? Briefly explain the difference between an ordinary annuity and annuity due.

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