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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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