You are looking into an investment that will pay you $12,000 per year for the next 10 years. If you require a 15 percent return (compounded annually), what is the most you would pay now for this investment? Group of answer choices $60,225 $243,645 $65,225
You are looking into an investment that will pay you $12,000 per year for the next 10 years. If you require a 15 percent return (compounded annually), what is the most you would pay now for this investment? Group of answer choices $60,225 $243,645 $65,225
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 27P
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Question
You are looking into an investment that will pay you $12,000 per year for the next 10 years. If you require a 15 percent return (compounded annually), what is the most you would pay now for this investment?
Group of answer choices
$60,225
$243,645
$65,225
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