In Problem 16, The Stack agrees to the one-time payment at a 5% discount rate but wants

Question:

In Problem 16, The Stack agrees to the one-time payment at a 5% but wants the royalty payments figured from the beginning of the year, not the end of the year. How much more will the band receive with annuity-due payments on the royalty checks?
Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...