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3. You had an investment that was going to pay $3,000 at the end of each of the next 8 years. The discount rate is

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3. You had an investment that was going to pay $3,000 at the end of each of the next 8 years. The discount rate is 5% per year compounded annually. Find the present value of the investment today? (Use financial calculator to solve this problem) (10 points) Show your calculation to get full points. Check your answer: This investment worth $19,389.64 today

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