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An investment pays Mary $3,650 at the end of this year, and $500 at the end of each of the four following years. What is

An investment pays Mary $3,650 at the end of this year, and $500 at the end of each of the four following years. What is the present value of this investment, given that the interest rate is 5% per year?

a.

$5,254.76

b.

$5,077.88

c.

$7,152.52

d.

$5,164.74

Clear my choice

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