7. Determine the present value of an annuity where payments are $200 per month at...
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7. Determine the present value of an annuity where payments are $200 per month at the end of each month during the first year; $195 per month during the second year; $190 per month in the third year; etc., with monthly payments decreasing by $5 after the end of each year. Five dollars will be paid at the end of each month during the 40th year and nothing thereafter. Interest is at 12% compounded monthly
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