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Suppose that an annuity will provide for 20 annual payments of 1500 dollars, with the first payment coming 11 years from now. If the nominal

Suppose that an annuity will provide for 20 annual payments of 1500 dollars, with the first payment coming 11 years from now. If the nominal rate of interest is 11.8 percent compounded annually, what is the present value of the annuity?

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