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Sharon Walsh has developed an educational software package. She agrees to sell the patent to Sam for five annual payments of $50,000 each. The payments
Sharon Walsh has developed an educational software package. She agrees to sell the patent to Sam for five annual payments of $50,000 each. The payments are to begin three years from today. Given an annual rate of 6%, what is the approximate present value of the five payments?
Select one:
a.
$176,839
b.
$187,450
c.
$210,618
d.
$218,820
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