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Posted on Aug 08, 2024

Suppose that an annuity pays 2 0 annual payments of $ 1 5 8 0 , with the first payment coming 1 0 years from

Suppose that an annuity pays

20

annual payments of $

1580,

with the first payment coming

10

years from now. If the annuity earns interest at a rate of

11.8 %

compounded monthly, what is the present value of the annuity?

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