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Laura Hall, a lottery winner, will receive the following payments over the next seven years. She has been approached by an investor who will pay
Laura Hall, a lottery winner, will receive the following payments over the next seven years. She has been approached by an investor who will pay Laura a lump sum today for the rights to those future cash flows. If she can invest her cash flows in a fund that will earn 10.1 percent annually, how much should Laura require the investor to pay for the cash flows? (Round answer to 2 decimal places, eg. 15.25. Do not round factor values.) 1 2 3 5 7 Year $293,000 $343,000 $368,000 $393,000 $443,000 $493,000 $643,000 Present value of investment $
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