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Someone offers to buy your car for five, equal annual payments, beginning 9 years from today. If you think that the present value of your

Someone offers to buy your car for five, equal annual payments, beginning 9 years from today. If you think that the present value of your car is $15,500.00 and the interest rate is 11%, what is the minimum annual payment that you would accept?

$11,597.83

$10,631.35
$9,664.86
$8,698.38

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