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What is the present value of a security that will pay $20,000 in 15 years if securities of equal risk pay 4 percent annually? a.
What is the present value of a security that will pay $20,000 in 15 years if securities of equal risk pay 4 percent annually?
a. $19,230.77
b. 11,105.29
c. 14,485.28
d. 8,000
e.36,018.87
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