Question: Assume that a year from now you will begin receiving an annual payment that will grow at 2.75% for the next 9 years. The first

Assume that a year from now you will begin receiving an annual payment that will grow at 2.75% for the next 9 years. The first payment will be in the amount of $9,000. If the appropriate discount rate is 5.5%.

What is the current value of these annual payments?

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