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What is the present value of a 6-year ordinary annuity

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What is the present value of a 6-year ordinary annuity of $2,500 per year plus an additional $1,000 at the end of Year 6 if the interest rate is 6%? Please solve using the present value formula in excel. Upload a copy of your spreadsheet to show your work and please separately include a written explanation to accompany your answer.

Reference no: EM132747279

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