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3 . An investor plans to invest $ 5 0 0 / year and expects to get a 1 0 . 5 % return. If

3 .

An investor plans to invest $

500 /

year and expects to get a

10.5 %

return. If the investor makes these contributions at the end of the next

20

years, what is the present value

(

)

of this investment today?

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