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Someone offers to buy your car for five, equal annual payments, beginning 5 years from today. If you think that the present value of your

Someone offers to buy your car for five, equal annual payments, beginning 5 years from today. If you think that the present value of your car is $18,000.00 and the interest rate is 10%, what is the minimum annual payment that you would accept?

Multiple Choice

$6,952.07
$7,647.27
$8,342.48
$6,256.86

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