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Mitchell Investments has offered you the following investment opportunity: - $9,000 at the end of each year for the first 3 years, plus Check My

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Mitchell Investments has offered you the following investment opportunity: - $9,000 at the end of each year for the first 3 years, plus Check My Work ( 10 remainine - $7,000 at the end of each year from years 4 through 10, plus - $1,000 at the end of each year from years 11 through 21. Use Table II and Table IV or a financial calculator to answer the questions. Round your answers to the nearest dollar. a. How much would you be willing to pay for this investment if you required a 15 percent rate of return? $ b. If the payments were received at the beginning of each year, what would you be willing to pay for this investment? 5

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