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What is the present value of an ordinary annuity paying $1,300 each year for 10 years, with an interest rate of 7.2 percent compounded annually?
What is the present value of an ordinary annuity paying $1,300 each year for 10 years, with an interest rate of 7.2
percent compounded annually? (Round to the nearest dollar.)
a. 10,621
B. $8,202
C.$9,047
D. $14,053
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