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Calculate the present value of the following: a.) Annual payment of $1,000 for 10 years...

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Finance

Calculate the present value of the following:

a.) Annual payment of $1,000 for 10 years at 5% interest. (Do not round intermediate calculations. Round your answer to two decimal places.)

b.) Annual payment of $800 for 15 years at 5% interest. (Do not round intermediate calculations. Round your answers to two decimal places.)

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