Assume that an annuity pays $100 annually for 10 years starting five years from now with...
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Assume that an annuity pays $100 annually for 10 years starting five years from now with a discount rate of 8%. (In other words, cash flows start at year 5 and goes through each year ending at year 14.) What is the present value of the following annuity today? (Today is year=0) Assume that an annuity pays $100 annually for 10 years starting five years from now with a discount rate of 8%. (In other words, cash flows start at year 5 and goes through each year ending at year 14.) What is the present value of the following annuity today? (Today is year=0)
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