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Present value of annuities Your uncle has said that if you agree to finish college he will give you equal payments of $2,000 at the
Present value of annuities Your uncle has said that if you agree to finish college he will give you equal payments of $2,000 at the end of each year for the next seven years. If the annual interest rate stays constant at 7%, what is the value of these payments in today's dollars? Round your answer to the nearest whole dollar. $9,162 $11,534 $10,779 $13,474 You found out that now you are going to receive payments of $5,500 for the next 16 years. You will receive these payments at the beginning of each year. The annual interest rate will remain constant at 14%. What is the present value of these payments? Round your answer to the nearest whole dollar. $34,458 $53,031 $39,282 $31,426
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