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Question 7 (6.66 points) Compute the present value of an annuity of $ 846 per year for 20 years, given a discount rate of 8

Question 7(6.66 points)

Compute the present value of an annuity of $ 846 per year for 20 years, given a discount rate of 8 percent per annum. Assume that the first cash flow will occur one year from today (that is, at t = 1).(Round your answer to 2 decimal places; record your answer without commas and without a dollar sign).

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