Question
What is the present value of $1,400 a year at a discount rate of 8 percent if the first payment is received 7 years from
What is the present value of $1,400 a year at a discount rate of 8 percent if the first payment is received 7 years from now and you receive a total of 23 annual payments?
$9,149.74
$9,238.87
$9,333.33
$9,420.12
$9,881.72
Please show the steps, I am not sure about how to get the PV(6).
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Empirical Finance
Authors: Sardar M. N. Islam, Sethapong Watanapalachaikul
1st Edition
3790815519, 978-3790815511
