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This set of problems is designed to be calculated using the Excel or financial calculator

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This set of problems is designed to be calculated using the Excel or financial calculator. You can also use algebraic formulas. Do not use financial tables to calculate these problems.

What is the present value of the following annuity?

$4,290 every year at the end of the year for the next 5 years, discounted back to the present at 11.54 percent per year, compounded annually?