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You've just won a lot of money! The money will be paid to you over the next 5 years in the amount of $6,000 at
You've just won a lot of money! The money will be paid to you over the next 5 years in the amount of $6,000 at the beginning of each year. If you could instead collect your winnings in one large payment right now, how much would it be? The appropriate discount rate is 4% per year. No. 501 WINNER! LOSER! In the problem above I am working with (pick from the list below) a single cash flow (like in Chapter 5) 2 multiple different cash flows 3 an annuity 4 a perpetuity In the problem above I need to calculate the (pick from the list below) | 1 Future Value 12 Present Value 3 number of time periods, or number of cash flows 4 interest rate 5 dollar amount of the repeating cash flow (Increase decimal places for any intermediate calculations, from the default 2 to, for example, 6 or even higher. The more the better! Only round your final answer to TWO decimal places: for example, 10,000.23.) In the problem above my numerical answer is $
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