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Question
What is the PV of an ordinary annuity with 10 payments of $2,700 if the appropriate interest rate is 5.5%?a. $16,576
b. $17,449
c. $18,367
d. $19,334
e. $20,352
Answer
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Which of the following is not correct for a firm with seasonal sales and customers who all pay promptly at the end of 30 days?
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b. False