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<ol><li>Suppose a condo generates $20,000 in cash flows in the first year. If the cash flows grow at

5% per year, the interest rate is 10%, and the building will be sold at the end of 19 years with a value of $60,000, what is the present value of the condo's cash flow?</li><li>If the effective annual rate of interest is known to be 9% on a debt that has quarterly payments, what is the annual percentage rate? Enter your answer as a percentage rounded to 2 DECIMAL PLACES. Do not include the percentage sign in your answer.</li></ol>

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Answer Present value of the... View the full answer

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