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What is the present value of an ordinary $1,100 annuity payment over 17 years if the interest rates are 5 percent (assume annual compounding)? $18,700.00

"What is the present value of an ordinary $1,100 annuity payment over 17 years if the interest rates are 5 percent (assume annual compounding)?"

"$18,700.00 "

"$29,244.40

"Not possible to compute with the data provided

"$9,587.26 "

"$12,401.47 "

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