Question: Please fill the blank by correct answer and explain it clearly. Question 1 1 pts A decreasing annuity with annual payments pays $600 today and

Please fill the blank by correct answer and explain it clearly.

Question 1 1 pts A decreasing annuity with annual payments pays $600 today and will pay $20 less each year. The annuity terminates when the payment amount reached $0. Calculate the present value of the annuity as of today, when the annual effective interest rate is 4%. Round the answer to the nearest ten dollars

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