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(Solved): Nhat is the present value of a series of payments received each year for 9 /ears, starting with $400 ...



Nhat is the present value of a series of payments received each year for 9 /ears, starting with $400 paid one year from now and the payment growing in each subsequent year by 5%? Assume a discount rate of 7%.Please round your answer to the nearest cent.



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