Finding present value of ordinary annuity

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Reference no: EM1329737

What is the present value of an ordinary annuity that pays $4,800 per year for 8 years, assuming the annual discount rate is 7 percent?

a. $22,349.15

b. $35,887.85

c. $28,662.23

d. $30,668.59

e. $2,793.64

Reference no: EM1329737

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