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You are entering into a contract that will provide you with an income of $1,000 at...

You are entering into a contract that will provide you with an income of $1,000 at the end of the year for the next 10 years. If the annual interest rate is 7%, what is the present value of the stream of payments (ordinary annuity)? What is the future value if the payment is withdrawn at the beginning of each year (annuity due)?

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