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Peter Lynchpin wants to sell you an investment contract that pays equal $12,700 amounts at the end of each of the next 17 years.

Required:

If you require an effective annual return of 10 percent on this investment, how much will you pay for the contract today? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92355069

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