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Please explain more detail and list your formula. Thanks Tom was injured by a vehicle driven by a Rapid Transit delivery driver.To settle the claim

Please explain more detail and list your formula. Thanks

Tom was injured by a vehicle driven by a Rapid Transit delivery driver.To settle the claim for Tom's injuries, Rapid Transit agreed to pay Tom ten annual payments of $20,000 with the first of these payments three years from today.Assuming a 4 percent annual interest rate, what is the present value of Tom's settlement?

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