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Supposethat you will receiveannual paymentsof $12,000 for a period of 10 years. The firstpaymentwill be made 4 years from now. If the interest rate is

Supposethat you will receiveannual paymentsof $12,000 for a period of 10 years. The firstpaymentwill be made 4 years from now. If the interest rate is 6%, what is the present value of this stream of payments?

I calculated a present value of $11,928.43. What did I do wrong?

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