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# An investor expects to receive an annuity of $1,000 at the beginning of each year for 7 years. The first payment will be received 3 years from today....

An investor expects to receive an annuity of $1,000 at the beginning of

each year for 7 years. The first payment will be received 3 years from today. At a 6%

discount rate, what is this annuity worth today?