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Find the value of each of the next five payments

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Problem 1: 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.If you could add the Financial Calculator functions that would be great.

Reference no: EM132916892

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