Find the value today (time zero) of a security that pays $1,045 per month forever with the
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Question:
Find the value today (time zero) of a security that pays $1,045 per month forever with the first payment next month. A $1,508 payment at the end of year 4 and a $2,405 payment at the end of year 10. The interest rate is currently 5.82% compounded monthly.
Answer Format:
INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.
Enter numerical answers as a positive number rounded to 2 decimal places (###.##)
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