Mitchell Investments has offered you the following investment opportunity:

$$ $$6,000$ at the end of each year for the first $5$ years, plus

$$ $$3,000$ at the end of each year from years $6$ through $10,$ plus

$$ $$2,000$ at the end of each year from years $11$ through $20.$

How much would you be willing to pay for this investment if you required a $12$ percent rate of return?

Question $10$Answer

a$.$

$37,907\mathrm{.}87$

b$.$

$$30,326\mathrm{.}29$

c$.$

$$92,812\mathrm{.}43$

d$.$

$$66,214\mathrm{.}10$