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An investment promises 4 equal annual payments of $727, with the first payment occurring in 4 years. If the interest rate is 6%, what is
An investment promises 4 equal annual payments of $727, with the first payment occurring in 4 years. If the interest rate is 6%, what is the PV of the payments today (i.e., at t=0)? (please show me the process. Thanks!)
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