Question: At a 11% interest rate per year compounded annually, the present value (PV) of a 10-year ordinary annuity with annual payments of $4,000 is $15,000.

At a 11% interest rate per year compounded annually, the present value (PV) of a 10-year ordinary annuity with annual payments of $4,000 is $15,000. The PV of a 10-year annuity due with the same interest rate and payments is closest to: give the accurate ans and show proper formula for upvote.

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