Require an effective annual return

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Reference no: EM131992534

Peter Lynchpin wants to sell you an investment contract that pays equal $13,500 amounts at the end of each year for the next 19 years.

If you require an effective annual return of 10 percent on this investment, how much will you pay for the contract today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Value today $

Reference no: EM131992534

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