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You are considering an investment that promises to make 10 payments of $5,000. The payments will be made every two years. The only twist is

You are considering an investment that promises to make 10 payments of $5,000. The payments will be made every two years. The only twist is that the first payment will be received in one year. If you required a return of 10% per year compounded semi-annually, how much would you be willing to pay for this investment

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