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What is the present value ( PV ) of an investment that will pay $ 1 , 0 0 0 in one year's time, and

What is the present value

(

)

of an investment that will pay $

1, 000

in one year's time, and $

1, 000

every year after that, when the interest rate is

11 % ?

.

9, 091

.

4, 546

.

5, 455

.

7, 273

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