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Question 1 (2 points) A financial instrument pays $75,000 at the end of each of the next two years. The APR is 8%. In the

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Question 1 (2 points) A financial instrument pays $75,000 at the end of each of the next two years. The APR is 8%. In the first year the interest rate is compounded semi-annually. In the second year the interest rate is compounded annually. What is the present value of the financial instrument? a) $134,564.02 hey b) $133,744.85 c) $132,109.65 d) $133,547.01

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