You expect to receive annual payments of $1,000 for four years beginning one year from today. You
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You expect to receive annual payments of $1,000 for four years beginning one year from today. You can earn an annual return of 2%, compounded annually, on money invested today.
What is the present value of these payments today if the first payment comes four years from today instead of today?
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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