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What amount comes closest to the present value of an annuity of 15 consecutive annual payments of $1,000 if the annuity does not start making
What amount comes closest to the present value of an annuity of 15 consecutive annual payments of $1,000 if the annuity does not start making payments until the end of the fifth year (payments from year 5 through19)? Use an interest rate of 2%.
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