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Posted on Aug 01, 2024

Eric is considering an investment that will pay $ 8 , 2 0 0 a year for five years, starting one year from today. What

Eric is considering an investment that will pay $

8, 200

a year for five years, starting one year from today. What is the maximum amount he should pay for this investment if he desires a rate of return of

11.7

percent?

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