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Please show work 7. The investment firm of Cheatham & Swindler claims that if you invest $200,000 today you can receive 1,200 every month forever.

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7. The investment firm of Cheatham & Swindler claims that if you invest $200,000 today you can receive 1,200 every month forever. What is the EAR on this investment if the monthly payments are in arrears? Answer: 7.4424%

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