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3. What is the present value of a security that will pay $15,000 in 15 years if securities of equal risk pay 15% annually? a)

3. What is the present value of a security that will pay $15,000 in 15 years if securities of equal risk pay 15% annually? a) $1843 b) $4787 O c) $4066 O d) $4728 e) None of the above

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