A) An investment opportunity requires a payment of $980 for 12 years, starting a year from today.
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Question:
A)An investment opportunity requires a payment of $980 for 12 years, starting a year from today. If your required rate of return is 5.5 percent, what is the value of the investment to you today?(Round factor values to 4 decimal places, e.g. 1.2525 and final answer to 2 decimal places, e.g. 15.25.)
B)Robert Hobbes plans to invest $23,800 a year at the end of each year for the next seven years in an investment that will pay him a rate of return of 10.8 percent. How much money will Robert have at the end of seven years?(Round factor values to 4 decimal places, e.g. 1.2515 and final answer to 2 decimal places, e.g. 15.25.)
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