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Your rich Aunt tells you that she has put money aside for you in a trust. It will pay you $ 1,700,000 in exactly 10
Your rich Aunt tells you that she has put money aside for you in a trust. It will pay you $ 1,700,000 in exactly 10 years from now. An investor offers to purchase this $1,700,000 payment from you today. If the appropriate interest rate is 10% compounded semi-annually, what is the least amount you would sell this future payment for? Answer to the nearest cent (2 decimal)
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