Question
Suppose that you will receive annual payments of $28,000 for a period of 14 years. The first payment will be made 9 years from now.
| Suppose that you will receive annual payments of $28,000 for a period of 14 years. The first payment will be made 9 years from now. If the interest rate is 11.00%, what is the value of the annuity in year 8, what is the current value of this stream of cash flows? (Do not round intermediate calculations. Round your answer to 2 decimal places.) |
| Value of the Security in Year 8 | $ |
| Value of the Security today | $ |
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Financial Management Core Concepts
Authors: Ray Brooks, Raymond Brooks
1st Edition
0321155173, 9780321155177
