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Consider a stream of ( possibly negative ) flows, $ x t , t = 1 , 2 , dots, . Each flow is recieved

Consider a stream of

(

possibly negative

)

flows, $

x_{t}, t = 1, 2,

dots,

.

Each flow is recieved with probability

p_{t}, t = 1, 2,

dots,

.

What is the net present value of the stream of flows?

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