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Calculate the present value of end-of-year payments of

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Problem 1: This problem demonstrates the dependence of an annuity's present value on the size of the periodic payment. Calculate the present value of 30 end-of-year payments of: (Do not round intermediate calculations and round your final answers to 2 decimal places.)

a. $1,400

b. $2,400

c. $3,400

Use a discount rate of 5.4% compounded annually. After completing the calculations, note that the present value is proportional to the size of the periodic payment.

Reference no: EM132917587

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