Question: It is preferable to use Excel to solve. If you do not use Excel, be sure to show all equations & work. If you use

It is preferable to use Excel to solve. If you do not use Excel, be sure to show all equations & work. If you use Excel, be sure to attach your Excel spreadsheet file.

Question 16: A contract requires the investor to make equal payments of $5,000 per year for 10 years. The first payment will be made exactly 2 years from now. If the discount interest rate is 8%, determine the present value of this contract.

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