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If the interest rate is 15 15%, what is the present value of a security that pays you $1100 1,100 nextyear, $1250 1,250 the yearafter,
If the interest rate is 15
15%, what is the present value
of a security that pays you $1100
1,100 nextyear, $1250
1,250 the yearafter, and $1 332
1,332 the year afterthat
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