Question
Beginning in 7 years, (end of years 7, 8 and 9) Sally Mander will receive three annual benefit checks of $12,000 each. If Sally assumes
Beginning in 7 years, (end of years 7, 8 and 9) Sally Mander will receive three annual benefit checks of $12,000 each. If Sally assumes an interest rate of 5%, what is the present value of these checks?
| A. | $28,260 | |
| B. | $26,235 | |
| C. | $24,396 | |
| D. | $22,469 |
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International Financial Management
Authors: Cheol Eun, Bruce Resnick
5thEdition
0073382345, 9780073382340
