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Determining the percent on investment

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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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