Question
How much must be invested today in order to generate a five-year annuity of $1,000 per year, with the first payment one year from today,
How much must be invested today in order to generate a five-year annuity of $1,000 per year, with the first payment one year from today, at an interest rate of 8%?
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The formula to calculate present value of an annuity is given ...
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Introduction to Corporate Finance What Companies Do
Authors: John Graham, Scott Smart
3rd edition
9781111532611, 1111222282, 1111532613, 978-1111222284
