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#20 19) What is the present value (PV) of an investment that will pay $900 in one year's time and $900 every year after that,

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19) What is the present value (PV) of an investment that will pay $900 in one year's time and $900 every year after that, when the interest rate is 3%? 20) Since your birth, your grandparents have been depositing $120 into a savings account every month The account pays 9% interest annually. Immediately after your grandparents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to

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