ng the present value of an annuity) How much would you be willing to pay today for an investment that pays $800 a year at the end of the next 6 years?…

(Calculating the present value of an annuity) How much would you be willing to pay today for an investment that pays $800 a year at the end of the next 6 years? (Your required rate of return is 5% a year.)

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