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If the interest rate is 1 0 % , what is the present value of a security that pays you $ 1 , 1 0

If the interest rate is

10 %,

what is the present value of a security that pays you $

1, 100

next year, $

1, 210

the year after, and $

1, 349

the year after that?

Present value is $

(

Round your response to the nearest penny.

)

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