Question: This problem demonstrates the dependence of an annuitys present value on the size of the periodic payment. Calculate the present value of 10 end-of-year payments

This problem demonstrates the dependence of an annuitys present value on the size of the periodic payment. Calculate the present value of 10 end-of-year payments of: (Do not round intermediate calculations and round your final answers to 2 decimal places.)

a. $2,800

b. $3,800

c. $4,800

Use a discount rate of 6.8% compounded annually. After completing the calculations, note that the present value is proportional to the size of the periodic payment.

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