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13. How much would Mary be willing to pay today for an investment that would return $1,200 each year at the end of each of
13. How much would Mary be willing to pay today for an investment that would return $1,200 each year at the end of each of the next 9 years? Assume a discount rate of 4 percent. a. $5,441.53 b. $8,922.40 c. $9,279.29 d. $7,841.78 e. $6,632.37
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