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In finance, annuity is defined as the same cash flows happening at the same period for the next n periods. Assume that we receive 20
In finance, annuity is defined as the same cash flows happening at the same period for the next n periods. Assume that we receive 20 equivalent $50 cash flows at the end of each year. The first cash flow happens at the end of the 7th year. What is the present value when the discount rate is 1.34% per year?
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