Question
) Joe was awarded some money as the result of a legal settlement. He will be given $100,000 at the end of year 1 and
) Joe was awarded some money as the result of a legal settlement. He will be given $100,000 at the end of year 1 and $400,000 at the end of year 5. If the insurance company offers him a lump sum today, how much should that amount be, assuming the interest rate is 4%?
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Basic Finance An Introduction To Financial Institutions, Investments And Management
Authors: Herbert B Mayo
9th Edition
0324322291, 9780324322293
