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4) An investment offers to pay $ 100 a year forever starting at the end of year 6. If the interest rate is 8%, then
4) An investment offers to pay $ 100 a year forever starting at the end of year 6. If the interest rate is 8%, then what is the investment's value today? (Take note: first payment happens at the end of 6th year, not the end of 1st year.)
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