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The present value of an annuity that pays $1 at the end of each year for n years is $10.73955. The present value of an

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The present value of an annuity that pays $1 at the end of each year for n years is $10.73955. The present value of an annuity that pays $1 at the end of each year for 21 years is $16.28889. Determine the annual effective interest rate. A B C D E 4.0% 4.5% 5.0% 5.5% 6.0%

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