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Wilt has a consulting contract with a firm that states that he will receive annual payments for five years with the first payment due one
Wilt has a consulting contract with a firm that states that he will receive annual payments for five years with the first payment due one year from today. The first payment is 50,000 and the payment keeps growing by 5% per year. What is the current value of this contract if the discount rate is 8.4 percent?
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