Question
You expect to receive annual payments of $1,000 for four years beginning one year from today. You can earn an annual return of 2%, compounded
You expect to receive annual payments of $1,000 for four years beginning one year from today. You can earn an annual return of 2%, compounded annually, on money invested today.
What is the present value of these payments today if the first payment comes four years from today instead of today?
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Single Stock Futures
Authors: Patrick Lafferty
1st Edition
007159003X, 978-0071590037
