10 years from now Mr. X will start receiving a pension of $ 3000 a year for 16 years. How much the pension worth now if interest rate is 10%. Please mention the reasoning for number of terms chosen in every step.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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10 years from now Mr. X will start receiving a pension of $ 3000 a year for 16 years. How much the pension worth now if interest rate is 10%. Please mention the reasoning for number of terms chosen in every step. 

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