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Jim Nance has been offered an investment that will pay him $460 three years from today. a. If his opportunity cost is 5% compounded annually,

Jim Nance has been offered an investment that will pay him $460 three years from today.

a. If his opportunity cost is 5% compounded annually, what value should he place on this opportunity today?

b. What is the most he should pay to purchase this payment today?

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