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a. How much would you pay today to receive $15,000 in 8 years? Assume a 5% interest rate.

b. How much would your CD of $1,000 be worth in 6 years at an interest rate of 4%?

c. How much would you pay today for an investment in which you would receive $5,000 each year for the next 7 years? Assume an interest rate of 6%.

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