Stephen wants to determine the most she should pay to purchase an ordinary annuity. It consists of

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Stephen wants to determine the most she should pay to purchase an ordinary annuity. It consists of cash flows of $1,000 at the end of each year for 10 years. He requires a minimum return of at least 10%.
a .$3,245
b .$6,145
c .$1,800
d .$9,000

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Principles of managerial finance

ISBN: 978-0132479547

12th edition

Authors: Lawrence J Gitman, Chad J Zutter

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Question Posted: Jan 24, 2018 06:35 AM

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Stephen wants to determine the most she should pay to purchase an ordinary annuity. It consists of

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Years Cash flows Discount Present Value 1 1000 0909090909 90909 2 10...View the full answer

Principles of managerial finance

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