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Determine the value of each of the next five payments

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Question - The present value of an annuity using an effective annual discount rate of 12% is  $40,043.69. This annuity consists of 9 annual payments with the first four payments being $8,000 each starting today. Determine the value of each of the next five payments, assuming they are of equal size.

Reference no: EM132995294

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