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You will receive $1000 two years from today, and at the end of each subsequent year, you will receive an additional $1000 compared to the
You will receive $1000 two years from today, and at the end of each subsequent year, you will receive an additional $1000 compared to the previous year indefinitely. If the discount rate is 10% compounded annually, what is the present value today? Show the main steps in your calculation.
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