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What is the present value of $1,500 received for 24 months in arrears, followed by $1,200 received for 36 months in arrears, if the annual
What is the present value of $1,500 received for 24 months in arrears, followed by $1,200 received for 36 months in arrears, if the annual discount rate appropriate is 9.25%?
| a. | $62,261 | |
| b. | $13,984 | |
| c. | $15,764 | |
| d. | $64,022 |
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