An investment will pay you $7,000 8 years from today. Annual…
An investment will pay you $7,000 8 years from today. Annual payments will grow at a rate of 2% per year, forever. If the appropriate discount rate is 5.5% per year, what is this investment worth today? (Enter your answer to the nearest whole dollar. Do not enter the dollar symbol or any commas. For example, if your answer is $123,456.789, enter 123457. Do not worry if Canvas adds commas.)
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