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Multimedia applications are usually computer based programs that help a person give presentations or convey information in a more dynamic way. They can be very helpful for may reasons. For instance, you can have spread sheets to make your points more understandable. You might want to have charts that map out growth, etc. You could also have music, images, and even small movie clips. Pretty much the sky is the limit. The goal of all of these things is to organize your thoughts in such as way that your audience will not only be captivated, but also educated.
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