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Question 15 Assume that the future value of an ordinary annuity is $3,246, the annual payment is $1,000, and the interest rate is 8 percent.

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Question 15 Assume that the future value of an ordinary annuity is $3,246, the annual payment is $1,000, and the interest rate is 8 percent. How many years will it take the $1,000 annual payments to grow to $3,246? O 1 year O 3 years O 5 years O 7 years Click if you would like to Show Work for this question: Open Show Work

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