Determining the percent on investment

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Reference no: EM13971841

You are considering an investment contract that pays equal $15,000 amounts at the end of each of the next 20 years. If you require an effective annual return of 7 percent on this investment, how much will you pay for the contract today?

$58,045.27
$300,000
$158,910.21
$17,432.90
$194,216.14

Reference no: EM13971841

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