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Find the Present Value of an Ordinary Annuity of $5,000

question 158

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Find the present value of an ordinary annuity of $5,000 payments each made annually over 6 years and earning interest at 9% per year compounded annually. ​


Definitions:

Spatial Reasoning

The ability to understand, reason, and remember the spatial relations among objects or space.

Replicable

Capable of being repeated or duplicated under similar conditions, a critical criterion for scientific research to verify results.

Double-blind Study

A research method in which neither the participants nor the researchers know who is receiving the experimental treatment, to prevent bias.

Independent Variable

In an experiment, the variable that is intentionally changed or manipulated to observe its effect on a dependent variable.

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