Question
A rich donor gives a hospital $1010000 one year from today. Each year after that, the hospital will receive a payment 8% larger than the
A rich donor gives a hospital $1010000 one year from today. Each year after that, the hospital will receive a payment 8% larger than the previous payment, with the last payment occurring in 10 years' time. What is the present value (PV) of this donation, given that the interest rate is 10%?
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Canadian Multinationals And International Finance
Authors: Gregory P. Marchildon, Duncan McDowall
1st Edition
0714634816, 978-0714634814
