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Under the terms of a contract, the following payments are guaranteed: 1) 5100,000 payable immediately 2) $75,000 per year for five years, payable in equal
Under the terms of a contract, the following payments are guaranteed: 1) 5100,000 payable immediately 2) $75,000 per year for five years, payable in equal monthly installments at the end of the month 3) $50,000 per year, payable annually at the end of the 6th through 10th years. If interest is 5% per year, compounded annually, in which of the following ranges is the present value at the begianiag of the 4 th year of the remaining payments due under the contract
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