IB Math AI HL Practice Questions - IB Diploma Mathematics Applications And Interpretation HL Exam

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An annuity pays $1000 at the end of each year for 10 years with interest 5% per year. What is the present value? Use PV = PMT (1 - (1+r)^(-n))/r.

$$7721.73 $$10000.00 $$8107.82 $$6139.13

Correct Answer:

$$7721.73

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