Your investment advisor recommends you the following investment. The investment will pay you every year...
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Your investment advisor recommends you the following investment. The investment will pay you every year over the next 18 years. The first payment is $1583 at the end of this year. The payments will grow by 17% every year thereafter. If the appropriate discount rate is 6%, how much would you be willing to pay for this investment today? (Note: retain at least four places of a decimal in your calculation)
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