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Find the present value of 20 quarterly payments of $3,000 each to be received over the next five years. Interest rate is 5 percent per

Find the present value of 20 quarterly payments of $3,000 each to be received over the next five years. Interest rate is 5 percent per annum

Figure 4.1 The fate of $100 invested at 10%, compounded annually S 800 700 600 500 400 300 200 100 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Years

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