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What is the present value of a security that will pay $5,000 in 20 years if securities of equal risk pay 8% annually? What is

What is the present value of a security that will pay $5,000 in 20 years if securities of equal risk pay 8% annually? image text in transcribed

What is the present value of a security that will pay $5,000 in 20 years if securities of equal risk pay 8% annually? Do not round intermediate calculations. Round your answer to the nearest cent. $

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