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Question 7.pdf - 7. You have made an investment today of $3...

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7. You have made an investment today of $3,000 that will pay you $125 per month overthe next three years (36 payments) and you will receive your first payment today.Whatis the effective annual rate of return on this investment?A) 30.50%B) 33.21%C) 35.15%D) 42.24%E) 44.32%Month:0______1______2______3______4______5…………………………….............35____36125125125125Identify the variables: PV=-3000; PMT=125; N=36; Annuity DUEFIND EAR.125
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