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Required: a. A car down payment of $20,000 that will be required in six years, assuming an interest rate of 14%. Present value b. A
Required: a. A car down payment of $20,000 that will be required in six years, assuming an interest rate of 14%. Present value b. A lottery prize of $6 million to be paid at the rate of $300,000 per year for 20 years, assuming an interest rate of 6%. Present value C. The same annual amount as in part b, but assuming an interest rate of 8%. Present value d. A capital lease obligation that calls for the payment of $8,000 per year for 10 years, assuming a discount rate of 16%. Present value
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