Consider five-year fixed-payment security

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Reference no: EM131188534

Consider a five-year fixed-payment security that has a present value of $1,500. If the annual rate of discount is 2 percent, the payment made at the end of each year is

A)$231.77

B)$288.24

C)$300.00

D) $310.00

Reference no: EM131188534

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