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Given a 5 percent interest rate, compute the present value of payments

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Given a 5 percent interest rate, compute the present value of payments
made in years 1, 2, 3, and 4 of $1,550, $1,750, $1,750, and $2,050. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Present value? ________$

 
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