Question
What is the present worth of the followinWhat is the present worth of the following stream of cash flows? An annuity that starts 9 years
What is the present worth of the followinWhat is the present worth of the following stream of cash flows? An annuity that starts 9 years from now and pays $1,000 per year for 4 years (4 payments of $1,000). Assume 6% interest rate. (Note: nothing is paid in years 1-9. The first payment is received at the end of year 10. The last payment is received at the end of year 13.)g stream of cash flows? An annuity that starts 9 years from now and pays $1,000 per year for 4 years (4 payments of $1,000). Assume 6% interest rate. (Note: nothing is paid in years 1-9. The first payment is received at the end of year 10. The last payment is received at the end of year 13.)
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