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you invest in the esmeralda corporation by loaning them a certain amount of money, L. They agree to pay you interest each year of $100,
you invest in the esmeralda corporation by loaning them a certain amount of money, L. They agree to pay you interest each year of $100, payable continuously. Esmeralda Corporation must extinguish the debt by making a single payment of $1000 at the end of either the 8th, 9th, or 10th year. Interest payments stop once the $1000 is paid. You desire at least a 12% rate of return on your investment. Determine the largest amount L can be.
A- less than $915
B- $915-925
C- $925-935
D- $935-945
E- $945 and up
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