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This problem demonstrates the dependence of the present value of an annuity on the discount rate. For an ordinary annuity consisting of 15 annual payments

This problem demonstrates the dependence of the present value of an annuity on the discount rate. For an ordinary annuity consisting of 15 annual payments of $2,300, calculate the present value using an annually compounded discount rate of: (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. 4.2% $ b. 9.2% $ c. 10.2% $

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