Question: Given a 5 percent interest rate, compute the present value of payments made in years 1 , 2 , 3 , and 4 of $

Given a 5 percent interest rate, compute the present value of payments made in years 1,2,3, and 4 of $1,100,$1,300,$1,300, and
$1,600, respectively.
Note: Do not round intermediate calculations and round your final answer to 2 decimal places.
Present value
Given a 5 percent interest rate, compute the present value of

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