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(Related to Checkpoint 6.2) (Present value of an ordinary annuity) What is the present value of $3,000 per year for 8 years discounted back to

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(Related to Checkpoint 6.2) (Present value of an ordinary annuity) What is the present value of $3,000 per year for 8 years discounted back to the present at 9 percent? The present value of $3,000 per year for 8 years discounted back to the present at 9 percent is $ (Round to the nearest cent.)

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