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A real estate investor feels that the cash flow from a property investment will enable her to pay a lender N$15,000 per year, at the
A real estate investor feels that the cash flow from a property investment will enable her to pay a lender N$15,000 per year, at the end of every year, for 10 years. How much should the lender be willing to loan her if he requires a 9% annual interest rate by general formula (annually discounting, assuming the first of the 10 equal payments arrives one year from the date the loan is disbursed)?
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