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(Present value of an annuity) Determine the present value of an ordinary annuity of $1,500 per year for 10 years, assuming it earns 13 percent.

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(Present value of an annuity) Determine the present value of an ordinary annuity of $1,500 per year for 10 years, assuming it earns 13 percent. Assume that the first cash flow from the annuity comes at the end of year 6 and the final payment at the end of year 15. That is, no payments are made on the annuity at the end of years 1 through 5. Instead, annual payments are made at the end of years 6 through 15. The present value of the annuity at the end of year 5 is $. (Round to the nearest cent.) The present value of the annuity today is $(Round to the nearest cent.) Chio 5543.75 Enter your answer in each of the answer boxes. stv ) 0 7 8 9

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