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You are guaranteed annual payments. The first one is $1,000 at the end of the first year. Afterwards, the payment will grow by 6
You are guaranteed annual payments. The first one is $1,000 at the end of the first year. Afterwards, the payment will grow by 6 percent per year. The opportunity ends after 20 years. Your required return on this investment is 12 percent. What is the most you would be willing to pay for the opportunity? $11,125 $8,513 $20,000 $12,112 $10,000
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