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What is the present value of an annuity with 5 quarterly payments of $1,000 when the first payment occurs in 1.5 years from now and

What is the present value of an annuity with 5 quarterly payments of $1,000 when the first payment occurs in 1.5 years from now and the required rate of return is J4=15.00%? a. $3,730 b. $928 c. $4,483 d. $9,899 e. $1,688

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