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2. Assume the payment schedule in problem 1 changes as follows: . the payment 17 years from today is waived, and . a payment of

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2. Assume the payment schedule in problem 1 changes as follows: . the payment 17 years from today is waived, and . a payment of $20,000 is made 18 years from today. Assuming a discount rate of 10%, what is the present value of this series of payments? (2 marks)

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