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3. A $10,000 investment would return a series of $3,000 year-end payments over the next 5 years if no inflation were present. However, an average
3. A $10,000 investment would return a series of $3,000 year-end payments over the next 5 years if no inflation were present. However, an average inflation rate of 6% is expected to increase the payments accordingly. If the annual market rate of interest remains at 13%, determine the present equivalent worth of the investment.
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