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What is the present value of an annuity consisting of 8 annual payments of $550, with the first payment to occur one year from now,
What is the present value of an annuity consisting of 8 annual payments of $550, with the first payment to occur one year from now, if the interest rate is 7% p.a.?
Select one:
a.$3514
b.$3261
c.$3284
d.$3537
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Basic Finance An Introduction To Financial Institutions, Investments, And Management
Authors: Herbert B. Mayo
12th Edition
1337691011, 978-1337691017
