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What will be the value of the annual annuity payment

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An ordinary annuity selling at $10,577.28 today promises to make equal payments at the end of each year for the next seven years (N). If the annuity's appropriate interest rate (i) remains at 6.50% during this time, what will be the value of the annual annuity payment (PMT)?

Reference no: EM132066796

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