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a. What is the present value of a 5-year annuity of $500 (at the end of each year) if the discount rate is 5%? b.
a. What is the present value of a 5-year annuity of $500 (at the end of each year) if the discount rate is 5%?
b. What is the present value of the annuity in (a) if the $500 comes in the beginning of the year?
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Financial Management An Introduction
Authors: Jim McMenamin
1st Edition
0415181623, 9780415181624
