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You are considering an investment with 10 annual payments, the first of which occurs today. This first payment will be $1,500 and will grow at

You are considering an investment with 10 annual payments, the first of which occurs today. This first payment will be $1,500 and will grow at a rate of 10% each year. You expect to earn 5% per year on this investment.

How much amount you will be willing to pay?

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