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Your friend promises you an annuity of $1 every year for 8 years. The first payment occurs at year 1, which of the following is
Your friend promises you an annuity of $1 every year for 8 years. The first payment occurs at year 1, which of the following is right about its present value at year zero if r = 5%? Select one: a. $6.46 b. $6.16 c. $5.51 O d. No enough information e. None of the above
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