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Question
An investment pays $400 in one year, X amount of dollars in two years, and $500 in 3 years. The total present value of all the cash flows (including X) is equal to $1500. If i is 6%, what is X?
A. $702.83
B. $822.41
C. $789.70
D. $749.67
E. $600.00
Answer
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