What is the present value of ordinary annuity

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Reference no: EM13879770

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. $10,446

b. $9,428

c. $8,957

d. $8,509

e. $9,924

Reference no: EM13879770

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