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Find the present value of 4 percent × $2,300 (or $92) for 24 years at 12 percent. The $92 is assumed to be an annual payment. Add this value to $2,300.

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Find the present value of 4 percent $2,300 (or $92) for 24 years at 12 percent. The $92 is assumed to be an annual payment. Add this value to $2,300....
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