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please solve it clearly. A 7-year annuity will pay $500 on April 1, 2022, and the payment amount will increase 3% each year. The annual

please solve it clearly. image text in transcribed

A 7-year annuity will pay $500 on April 1, 2022, and the payment amount will increase 3% each year. The annual effective interest rate is 7%. Calculate how much the annuity is worth as of April 1, 2021. Round the answer to the nearest ten dollars

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