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An investment opportunity requires a payment of $970 for 12 years, starting a year from...

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Finance

An investment opportunity requires a payment of $970 for 12 years, starting a year from today. If your required rate of return is 5.5 percent, what is the value of the investment to you today? (Round factor values to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25.)

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