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The present value of a 9 - year annuity is $ 4 , 0 0 0 . The first annual cash flow occurs one year

The present value of a

9 -

year annuity is $

4, 000 .

The first annual cash flow occurs one year from today. The discount rate is

7.4 %

and you need to find the payment. If you want the payments to represent inflows, what value should you enter into FV in your financial calculator?

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