Question: 1,076 was incorrect. could you explain your answer as well? An annuity pays $120 a year for 15 years, starting January 1, 2021. The annual

1,076 was incorrect. could you explain your answer as well?

An annuity pays $120 a year for 15 years, starting January 1, 2021. The annual effective interest rate is 5%. Calculate the value of the annuity on January 1, 2018. Round the answer to the nearest dollar

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