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1. A friend is encouraging you to invest in his business. If you invest $50,000 today, he promises to pay you $9,600 each year for

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1. A friend is encouraging you to invest in his business. If you invest $50,000 today, he promises to pay you $9,600 each year for the next six years. If your MARR is 7%, what is the present value of the payments he will make to you? Select one: a. 57,600 b. 50,145 c. 52,332 d. 45,763 e. 61,278

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