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Calculating Present Value of Annuities Peter Lynchpin wants to sell you an investment contract that pays equal $22,500 amounts at the end of each year

Calculating Present Value of Annuities Peter Lynchpin wants to sell you an investment contract that pays equal $22,500 amounts at the end of each year for the next 20 years. If you require an effective annual return of 8 percent on this investment, how much will you pay for the contract today?

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