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Salvatore has the opportunity to invest in a scheme which will pay $7,500 at the end of each of the next 5 years. He must

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Salvatore has the opportunity to invest in a scheme which will pay $7,500 at the end of each of the next 5 years. He must invest $15,000 at the start of the first year and an additional $15,000 at the ond of the first year. What is the present value of this investment if the interest rate is 3% ? A. 58,861,35 B. $4,784.70 C. $4,784,70 D. $8,861.35

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