resent value of an annuity. For each of the cases shown in the following table, calculate the present value of the annuity, assuming that the annuity cash flows occur at the end of each year.
Case Amount of annuity Interest rate Period
(years)
A $ 12,000 7% 3
B 55,000 12 15
C 700 20 9
D 140,000 5 7
E 22,500 10 5
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