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If the current rate of interest is 8%, then the present value (PV) of an investment that pays $1,100 per year and lasts 20 years

If the current rate of interest is 8%, then the present value (PV) of an investment that pays $1,100 per year and lasts 20

years is closest to:

$15,120

$6,480

$ $12,960

$ 10, 800

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