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What is the value today of an investment that pays $500 every year at year-end during the next 15 years if the annual interest rate

What is the value today of an investment that pays $500 every year at year-end during the next 15 years if the annual interest rate is 9%? Answer $4,030.50 $7,500.00 $3,500.00 $7,000.00

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