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Baxter desires to purchase an annuity on January 1,2014,that yields him five annual cash flows of $10,000 each,with the first cash flow to be received on January 1,2017.The interest rate is 10% compounded annually.The cost (present value) of the annuity on January 1,2014,is ________.
Denying
The act of declaring something to be untrue or rejecting the validity of a claim.
Antecedent
An event, condition, or cause that logically or necessarily precedes another.
Standard Form
A commonly accepted or prescribed format for presenting an argument, document, or mathematical expression.
Proposition
An affirmation that offers an opinion or judgment.
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