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What is the maximum you should be willing to pay for the right to receive $500 a month forever if the quoted annual interest rate
What is the maximum you should be willing to pay for the right to receive $500 a month forever if the quoted annual interest rate (APR) is a constant 15%? Round your answer to the nearest dollar.
Question 11 options:
| $40,000 |
| $49,383 |
| $57,500 |
| none of the above |
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