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What is the value today of a 15-year annuity that pays $640 per year? The annuitys first payment occurs six years from today. The discount
What is the value today of a 15-year annuity that pays $640 per year? The annuitys first payment occurs six years from today. The discount interest rate is 10 percent for Years 1 through 5 and 12 percent thereafter. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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