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Your friend promises you an annuity of 31 payments. If the first payment of $5 occurs in year 0 and the interest rate is 20%,

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Your friend promises you an annuity of 31 payments. If the first payment of $5 occurs in year 0 and the interest rate is 20%, which of the following is right about its present value at time zero? a. $27.89 b. $29.89 c. $50.89 d. $24.89 e. None of the above Clear my choice

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