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David has purchased an investment that he expects to produce a monthly cash flow of $250 for seven years. He requires an 7% rate of

David has purchased an investment that he expects to produce a monthly cash flow of $250 for seven years. He requires an 7% rate of return (compounded monthly). What investment does he need to make?

a.$1,617

b.$19,877

c.$19.401

d.$32,400

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