Question
#7 What is the value today of a money machine that will pay $2,988.00 per year for 21.00 years? Assume the first payment is made
#7 What is the value today of a money machine that will pay $2,988.00 per year for 21.00 years? Assume the first payment is made 7.00 years from today and the interest rate is 5.00%.
Answer format: Currency: Round to: 2 decimal places.
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley Eakins
6th International Edition
0321552113, 9780321552112
