A contract calls for a lump-sum payment of $15,000. Find the present value of the contract, assuming
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A contract calls for a lump-sum payment of $15,000. Find the present value of the contract, assuming that
(1) The payment is due in five years and the current interest rate is 9 percent;
(2) The payment is due in ten years and the current interest rate is 9 percent;
(3) The payment is due in five years and the current interest rate is 5 percent; and
(4) The payment is due in ten years and the current interest rate is 5 percent.
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Years Rate Factor from Table 1 Present Value of 15000 ...View the full answer
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