Question: To settle a debt a borrower has offered to pay five annual amounts of $1,000 starting at the beginning of year 3. Given an interest

To settle a debt a borrower has offered to pay five annual amounts of $1,000 starting at the beginning of year 3. Given an interest rate of 4% per annum what is the value of these payments to a lender today?

		$4,579.71
		$4,316.81
		$4,446.32
		$4,629.90
		None of these responses

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