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Consider a five-year fixed-payment security that has a present value of $1,500. If the annual rate of discount is 2 percent, the payment made at
Consider a five-year fixed-payment security that has a present value of $1,500. If the annual rate of discount is 2 percent, the payment made at the end of each year is
A)$231.77
B)$288.24
C)$300.00
D) $310.00
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