Question: A 15 payment annual annuity has its first payment in 9 years. If the payment at the beginning of the year (annuity due) is $1400

A 15 payment annual annuity has its first payment in 9 years. If the payment at the beginning of the year (annuity due) is $1400 and the interest rate is 7%, what is the most you should be willing to pay today for this investment?

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