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8) A 4-year contract pays you $100 today and also for the following 4 years (essentially, there are 5 payments). The interest rate is

8) A 4-year contract pays you $100 today and also for the following 4 years (essentially, there are 5 payments). The interest rate is 3% per year. What is the present value of this contract? (A) $371.71 (B) $382.86 (C) $457.97 (D) $471.71

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