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Your friend approached you and offered you an investment that is expected to produce $300,000 in 60 months. If you want to earn 5% per

Your friend approached you and offered you an investment that is expected to produce $300,000 in 60 months. If you want to earn 5% per annum, compounded monthly, how much should you offer to pay for the investment today, rounded to the nearest dollar?

 

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