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Ltcp Tobless Maria Miller, a lottery winner, will receive the following payments over the next seven years. She has been approached by an investor who
Ltcp Tobless Maria Miller, a lottery winner, will receive the following payments over the next seven years. She has been approached by an investor who will pay Maria 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 9.8 percent annually, how much should Maria require the investor to pay for the cash flows? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.) 1 2 3 4 5 6 7 Year $241,000 $291,000 $316,000 $341,000 $391,000 $441,000 $591,000 Present value of investment $
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