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Suppose you are going to receive five annual payments of $13,500. The appropriate interest rate is 6.8 percent. What is the present value if

Suppose you are going to receive five annual payments of $13,500. The appropriate interest rate is 6.8 percent. What is the present value if the payments are an annuity due? Suppose you purchase a 5-year, 6.8% annuity with annual payouts of $13,500. How much do you pay for this contract?

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