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1. An investment will pay $300 at the end of each of the next 4 years, $400 at the end of Year 5, $500 at

1. An investment will pay $300 at the end of each of the next 4 years, $400 at the end of Year 5, $500 at the end of Year 6, and $600 at the end of Year 7. If other investments of equal risk earn 10% annually, what is this investments present value?

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