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What is the present value of a security that pays you $0.80 per year for 15 years. Assume that the current interest rate is 4%

What is the present value of a security that pays you $0.80 per year for 15 years. Assume that the current interest rate is 4% compounded annually.

A.

$7.96

B.

$8.89

C.

$5.96

D.

$9,96

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