An annuity is expected to pay $1,000 in one year and the payout will grow at 2.6%
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An annuity is expected to pay $1,000 in one year and the payout will grow at 2.6% thereafter. If the discount rate is 9% and the annuity lasts for 12 years, what is the present value of this annuity? (Provide solution in dollars and cents, to the nearest cent.)
Related Book For
Financial Management Principles and Applications
ISBN: 978-0134417219
13th edition
Authors: Sheridan Titman, Arthur J. Keown, John H. Martin
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