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Pierce owns an annuity which pays him $100 per year in 2023,2024 and 2025 . Assuming a positive required return, what do you know about

Pierce owns an annuity which pays him $100 per year in 2023,2024 and 2025 . Assuming a positive required return, what do you know about the PV of the annuity today compared to the FV in 2025

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