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Peter wants to sell you an investment contract that pays equal $15,000 amounts at the end of each quarter for the next 20 years. The

Peter wants to sell you an investment contract that pays equal $15,000 amounts at the end of each quarter for the next 20 years. The first payment will be three months (one quarter) from now. If you require an investment of this risk to return 8% per year, quarterly compounded, what is the most you would be willing to pay for this investment contract today? What will its value be 20 years from now?

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