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The answer is already listed, I just need to see how to solve for it. You are offered a court settlement in the following terms:
The answer is already listed, I just need to see how to solve for it.
You are offered a court settlement in the following terms: you will receive 10 equal payments of $1,023 each every year, with the first payment being made 2 years from now. The current annual interest rate is 4%. Assume yearly compounding. What is this settlement worth in present value terms? Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57Step by Step Solution
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