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QUESTION 2 Assume you have an option to purchase an investment that will provide a cash payment of $20,000 in 13 years. If you believe
QUESTION 2
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Assume you have an option to purchase an investment that will provide a cash payment of $20,000 in 13 years. If you believe the appropriate rate of return is 12% compounded semiannually, how much should you pay for this today?
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