What is the value today of a money machine that will pay $6,658.00 per year for 5.00 years? Assume the first payment is made today and that there are 5.0 total payments. The interest rate is 10.00%.

2. Derek will deposit $753.00 per year for 20.00 years into an account that earns 10.00%. The first deposit is made today. How much will be in the account 20.0 years from today? Note that he makes 20.0 total deposits.

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To calculate the present value of an annuity the money machine in the first question or the future v... View the full answer