What is the present value of this annuity

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Reference no: EM132008532

Suppose that you are given an annuity that pays $1, 500 in every quarter for the next five years.

You believe that the interest rate over this 1 period will remain fixed at 5% per annum. What is the present value of this annuity.

(Hint: Note that it is annuity rather than an annuity due.)

Reference no: EM132008532

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