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2. You are hurt in a car accident and your lawyer wins a settlement to be distributed as follows: $45,000 immediate payment $9,000 a year

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2. You are hurt in a car accident and your lawyer wins a settlement to be distributed as follows: $45,000 immediate payment $9,000 a year for ten years starting now $70,000 after ten years. If the lawyer's fee is $25,000, what is the present value of this settlement if the interest rate is 10 percent? Present Value 5 points. (please show your work)

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