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Exercise 6.15 @LO 10 Present value calculations Using a present value table, your calculator, or a computer program present value function, calculate the present value
Exercise 6.15 @LO 10 Present value calculations Using a present value table, your calculator, or a computer program present value function, calculate the present value of: a. A car down payment of $9,000 that will be required in two years, assuming an interest rate of 10%. b. A lottery prize of $18 million to be paid at the rate of $900,000 per year for 20 years, assuming an interest rate of 10%. Page 222 c. The same annual amount as in part b, but assuming an interest rate of 14%. d. A financing lease obligation that calls for the payment of $24,000 per year for 10 years, assuming a discount rate of 8%
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