Elam, a contractor, just signed a contract with a developer to provide services in a new housing development. The developer has agreed to pay Elam $32,475 in 5 years and another $69,404 13 years from today. Elam anticipates costs of $13,246 10 years from today and another $20,274 cost 18 years from today. What is the total present value of the contract to Elam if the interest rate is 4.52% compounded annually?

Answer rating: 100% (QA)

Answer I Total present value of contract is 4743841 Step 1 Interest rate pa compounded annually 452 ... View the full answer