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Question: a magazine subscription costs 45 per year at the beginning...

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A magazine subscription costs $45 per year at the beginning of each year, or $115 now for a threeyear subscription. If the subscriber elects to pay the $115 now, the rate of return on the investment will be nearest to:

a. 10%

b. 18%

c. 25%

d. 35%

Please explain your answer

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