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Dustin is considering an investment that will pay $3200 a year for 8 years, starting 1 year from today (which is normal). How much should Dustin pay for this investment today if he wishes to earn a 6 percent annual rate of return?

$18,859.14
$19,871.34
$11,987.92
$20,783.99
$17,820.73

 

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