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n investment offers to pay $500 a year forever starting at the end of year 3. If the interest rate is 5%, what is the
n investment offers to pay $500 a year forever starting at the end of year 3. If the interest rate is 5%, what is the investment's value today? (Assume annual compounding) A) $9,070.29 B) $8,250.00 C) $10,586.87 D) $7,787.71 Your real estate agent mentions that homes in your price range require a payment of $1,500 per month for 20 years at 1.25% interest per month. What is the size of the mortgage with these terms? A) $128,035.05 B) $113,913.42 C) $26,398.97 D) $1479,138.29
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