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Annual payments are made on annuity

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Determine the present value of an ordinary annuity of $1,000 per year for 10 years, assuming it earns 10 percent. Assume that the first cash flow from the annuity comes at the end of year 8 and the final payment at the end of year 17. That is, no payments are made on annuity at the end of years 1 through 7. Instead, annual payments are made on annuity at the end of years 8 through 17

Reference no: EM131697137

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