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What is the present value of an annuity of 9 annual payments of $1,000 if the first cash flow occurs in one year's time? The

What is the present value of an annuity of 9 annual payments of $1,000 if the first cash flow occurs in one year's time? The rate is 12% p.a. Calculate your answer to the nearest dollar. Do not use the $ sign when you submit your answer.

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