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You just settled an insurance claim and the first payment of $4,500 will be paid one year from today. The payments will continue for twelve

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You just settled an insurance claim and the first payment of $4,500 will be paid one year from today. The payments will continue for twelve years in total, and increase by one percent annually. What is the value today of this settlement assuming you can earn 4.63 percent on your investments? $38,618 $42,817 $46,732 $48,473

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