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What is the PV of an ordinary annuity with 5 payments of $4,700 if the appropriate interest rate is 4.5%? a. $19,601 b. $16,806 c.

What is the PV of an ordinary annuity with 5 payments of $4,700 if the appropriate interest rate is 4.5%?

a. $19,601

b. $16,806

c. $17,690

d. $18,621

e. $20,633

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