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What is the PV of a five-period annual annuity of $4,000 if the interest rate per period is 5% and the first payment is made

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What is the PV of a five-period annual annuity of $4,000 if the interest rate per period is 5% and the first payment is made today? a. $14,851.49 b. $18,183.80 $12, 112.05 d. $13,395.32

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