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Joe promised his high-school sweetheart to send her flowers every Monday before class (starting the week after the first day of school) for the next
Joe promised his high-school sweetheart to send her flowers every Monday before class (starting the week after the first day of school) for the next 30 years.
A bouquet of roses costs $4.00 a week (the second week of classes)
Assuming that the cost of roses would grow every week at a rate equivalent to 2% per year and that 6% was an appropriate annually compounded discount rate, what is the PV of this commitment?
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