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What is the present value of a 5-year ordinary annuity with monthly payments of $32,250, evaluated at a 15 percent interest rate? (Payments are made

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What is the present value of a 5-year ordinary annuity with monthly payments of $32,250, evaluated at a 15 percent interest rate? (Payments are made at the start of each month.) Select one: a $1.270,015 b. $1,372,561 c. $1,212,951 d. $1.355,616 e. $1.289.065 NEXT PAGE

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