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What's the Present Value of a 4-Year Ordinary Annuity of $2,250

Question 106

Multiple Choice

What's the present value of a 4-year ordinary annuity of $2,250 per year plus an additional $3,000 at the end of Year 4 if the interest rate is 5%?

A) $8,509
B) $8,957
C) $9,428
D) $9,924
E) $10,446

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