You are just retired, You pension company promised you that they will pay you $25,000 a year
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Question:
You are just retired, You pension company promised you that they will pay you $25,000 a year for 30 years. The first payment you will receive is a year from now. The market interest rate is 5% per year.
What is the present value of you pension if the payment you receive will be the same for 30 years?
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
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