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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

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 11.2 percent?

$17,899.08

$27,117.36

$20,186.75

$30,154.50

$18,153.55

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