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You are entitled to receive the following payments. Unless stated otherwise, assume the annual compounding in each question. Use the information below to answer the

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You are entitled to receive the following payments. Unless stated otherwise, assume the annual compounding in each question. Use the information below to answer the following question: Which of the following comes closest to the present value of the second payment if the interest rate is 2%? First Payment: $98 today Second Payment: $170 to be received at the end of year 5 Third Payment: $400 to be received at the end of year 10 O $105 $154 $98 $137 O O $113

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