Question: 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

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, respectively. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Present value $ 5,860 261

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