An investment pays you $500 per year (starting one year from now) and this payment...
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An investment pays you $500 per year (starting one year from now) and this payment grows at the rate of 3% per year. The payments will last for the next 40 years. If the appropriate interest rate is 8%, the present value of these payments is: c. $5,659.07 d. $8,498.45 a. $7,590.22 b. $6,758.27
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