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I'm struggling with the following present value problem... The market interest rate is 6%. Calculate the present value of $600 per year for ten years.

I'm struggling with the following present value problem...

The market interest rate is 6%. Calculate the present value of $600 per year for ten years. The first cash flow will be ten years from now.

I know how to calculate the present value of $600 per year for ten years, but I do not know how to account for the 10 year delay in payments starting.

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