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An investment costs $3 207 today and provides cash flows at the end of each year for 21 years. The investments expected return is 9.8%.
An investment costs $3 207 today and provides cash flows at the end of each year for 21 years. The investments expected return is 9.8%. The projected cash flows for Years 1, 2, and 3 are $196, $227, and $351, respectively. What is the annual cash flow received for each of Years 4 through 21 (i.e., 18 years)? Assume the same payment for each of these years. (Round answer to 2 decimal places. Do not round intermediate calculations)
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