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What is the present value of an annuity due that pays $500 per year for 7 years? Assume an interest rate of 5%. Multiple Choice

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What is the present value of an annuity due that pays $500 per year for 7 years? Assume an interest rate of 5%. Multiple Choice $4,274.55 $3,500.00 O $2,893.19 $3,037.85

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