Question: Solve for the final answer: You have been offered an investment opportunity that promises to pay $775 at the end of each quarter over a

Solve for the final answer: You have been offered an investment opportunity that promises to pay $775 at the end of each quarter over a 3 year payment period. However, the first payment will only be made one and a half years from today. What is the value of this investment to you (today), if your cost of capital is 4% p.a. compounding quarterly? (Hint: the value of a deferred annuity is determined with a 2-step process, which first requires you to determine the value of the annuity at some future date) Answer: $ ... (to two decimal places)

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