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Del Monty will receive the following payments at the end of the next three years: $2,000, $3,500, and $4,500. Then, from the end of the
Del Monty will receive the following payments at the end of the next three years: $2,000, $3,500, and $4,500. Then, from the end of the 4th through the end of the 10th year, he will receive an annuity of $5,000 per year. |
At a discount rate of 9 percent, what is the present value of all three future benefits? Use Appendix B andAppendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
Present value of all future benefits | $ |
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