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Further analysis of problem 10: Find the present value of 2 percent _ $1,000 (or $20) for 20 years at 10 percent. The $20 is assumed to be an annual...

11. Further analysis of problem 10:
a. Find the present value of 2 percent _ $1,000 (or $20) for 20 years at 10 percent. The $20 is assumed to be an annual payment.
b. Add this value to $1,000. c. Explain why the answers to problem 11b and problem 10 are basically the same. (There is a slight difference due to rounding in the tables.)

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