What's the present value of a 4-year ordinary annuity of $2,250 per year plus an additional $2,400 at the end of Year 4 if the interest rate is 5%?
A) $7,464.66
B) $9,952.87
C) $8,858.06
D) $12,341.56
E) $10,848.63
Correct Answer:
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