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3) You want to buy a security that pays you $500 every quarter for four years. The first payment occurs three years and one quarter

3) You want to buy a security that pays you $500 every quarter for four years. The first payment occurs three years and one quarter from today. Assuming a 12% APR compounded quarterly, what is the price of this security (rounded at the nearest $)? a. $4532 b. $3750 c. $4405 d. $4470

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