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help with this 8. More on the time value of money Hoyd is a divorce attorney who practices law in Florida. He wants to join
help with this
8. More on the time value of money Hoyd is a divorce attorney who practices law in Florida. He wants to join the American Divorce Lawyers Association (ADLA), a professignal organgabion for divorce attorneys. The membership dues for the ADLA are $650 per year and must be paid at the beginning of each yeae Far instance, membership dues for the first year are paid today, and dues for the second year are payable one year from today. However, the ADLA also has an Obviously, the sifetime membership isn't a good deal if you only remain a member for a couple of years, but if you remain a member for 40 years, its a great deal. Suppose that the appropriate annual interest rate is 5,9%. What is the minimum number of years that Lioyd must remain a miember of the ADLA so that the lifetime membership is cheaper (on a present value basis) than paying $650 in annual membership dijes? (Note: Round your ancwer up to the nearest year.). 13 years 19 years 21 years t6 vears In 1626, Dutchman Peter Minuit purchased Manhattan Isiand from a local Native American tribe. Historians estimate that the price he paid for the island was about $24 worth of goods, including beads, trinkets, cloth, ketties, and axe heads. Many people find it laughable that Manhattan Isiand would be sold for $24, but you need to consider the future value (FV) of that price in more current times. If the $24 purchase price could have beth. $26,582,409,490,69$35,964,436,369.75$41,280,918,267.89$31,273,422,930.22 Step by Step Solution
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