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PV=5000[0.011(1+0.01)12] /.01 (1+0.01)=$56,838.14 can somebody show me how to solve this problem step by step? I have the answer but i need to learn how

PV=5000[0.011(1+0.01)12] /.01 (1+0.01)=$56,838.14 can somebody show me how to solve this problem step by step? I have the answer but i need to learn how to solve the present value of an annuity factor formula

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