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Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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An investment has infinite life. Its annual cost is $1400 for the first five years and $1600 per year thereafter. If the interest is 6% per annum, the present worth of the total amount invested is most nearly:
Please explain in detail.
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