50

You are considering buying a bond which will pay annual amounts as shown at the end of this year, and at the end of every year until five year from now. At the end of the fifth year, the bond will also pay you an extra $1,000. 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
Annual payment expected		100	100	100	100	100
Additional lump sum expected						1,000
Total Cash Flow		100	100	100	100	1,100

What is this bond worth in today's money (i.e., what is the sum of the present values of each total cash flow)?

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