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48 You are considering an investment which will pay amounts as shown at the end of this year, and at the end of every year

48

You are considering an investment which will pay amounts as shown at the end of this year, and at the end of every year until five year from now. The following table shows your expected cash inflows and timing. The percent return you demand from your investments is at the top of the table, labeled "Required Return."

10% Required Return
Years to wait 0 1 2 3 4 5
Cash flow 100 100 100 100 100

What is this investment worth in today's money (i.e., what is the sum of the present values)?

Enter your answer as a number with four decimal places but without the currency symbol, like this: 90.1234

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