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Please explain your answer. Thank you. 8. Your friend promises you an annuity of $1 every year for 10 years. The first payment occurs next
Please explain your answer. Thank you.
8. Your friend promises you an annuity of $1 every year for 10 years. The first payment occurs next year, which of the following is right about its present value at time zero if r = 10%? $6.14 $6.76 $5.59 No enough information None of the above 9. Your friend promises you an annuity of $1 every year for 10 years. The first payment occurs at year 2, which of the following is right about its present value at year one if r= 10%? 3 6 5 3 5 $6.14 $6.76 $5.59 No enough information None of the aboveStep by Step Solution
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