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37 An original investment today of XXXXX provides an ordinary annuity of $2,000 per year, to be received at the end of each of each
37
An original investment today of XXXXX provides an ordinary annuity of $2,000 per year, to be received at the end of each of each of the next three years, discounted annually at 4 percent. The net present value is A) less than $600 B) more than $600 but less than $610 C) more than $610 but less than $620 D) more than $620 but less than $630 E) more than $630Step by Step Solution
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