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# Find the present value of an annuity due that pays \$3000 at the beginning of each...

Find the present value of an annuity due that pays \$3000 at the beginning of each quarter for the next 5 years. Assume that money is worth 6.6%, compounded quarterly. (Round your answer to the nearest cent.

R = \$3000, n = 5 * 4 = 20 quarters, i = 6.6%/4 = 1.65% (quarterly)

PV = 3000 * 16.9174 * 1.0165

PV = \$51,589.7

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