With an uneven stream of future cash flows, the present value is determined by discounting all of

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With an uneven stream of future cash flows, the present value is determined by discounting all of the cash flows back to the present and then adding the present values.

Is there ever a time when you can treat some of the cash flows as annuities and apply the annuity techniques you learned in this chapter?

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Financial Management Principles And Applications

ISBN: 9781292222189

13th Global Edition

Authors: Sheridan Titman, Arthur Keown, John Martin

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