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a) An investment offers monthly $500 payment for 7 years, with the first payment occurring 1 month from now (i.e., at the end of each

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a) An investment offers monthly $500 payment for 7 years, with the first payment occurring 1 month from now (i.e., at the end of each month). If the required return is 10 percent, what is the value of the investment? List the formula and input the numbers, no calculation b) An investment offers monthly $500 payment for 7 years, with the first payment just occurred (i.e., at the beginning of each month). If the required return is 10 percent, what is the value of the investment? List the formula and input the numbers, no calculation

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