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Assume that you own an investment that will pay you $15,000 per year for 12 years, with the first payment today. You need money today to start a new business, and your uncle offers to give you $120,000 for the investment. If you sell it, what rate of return would your uncle earn on the annuity?
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Assume that you own an investment that will pay you $15,000 per year for 12 years, with the first pa...
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