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Tony has a series of payments of $1000 which are due at the end of each year for five years. If the payments are deferred
Tony has a series of payments of $1000 which are due at the end of each year for five years. If the payments are deferred for two years and interest is 9% compounded quarterly, what is the present value of the deferred payments at the beginning of the annuity? Select one: a. $4689.23 b. $5222.58 c. $6021.59 d. $3858.73
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