The Life Trust Co.purchased an investment that will pay $5,000 next year.Every year thereafter,the payment will increase by 1.25 percent.What is the value of this investment if the required rate of return is 8.3 percent?
A) $62,300.00
B) $60,993.98
C) $65,647.81
D) $70,921.99
E) $73,984.23
Correct Answer:
Verified
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