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Question 5 You will receive annual payments of $4,000 at the end of each year for ten years (10 payments). The first payment will be

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Question 5 You will receive annual payments of $4,000 at the end of each year for ten years (10 payments). The first payment will be received in year 3. What is the present value (at t=0) of these payments if the discount rate is 9 percent

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