An Investment Promises to Return $1,000 at the End of Each

question 8

Multiple Choice

An investment promises to return $1,000 at the end of each of the next 5 years and then $2,000 at the end of each of the next 10 years years 6 through 15) . What is the value of this investment today at a 4% interest rate?

• A)$16,429.84
• B)$17,784.95
• C)$11,421,37
• D)$15,570.21

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