What is the value today of $6,500 per year, at a discount rate of 7.1 percent, if the first payment is received 6 years from today and the last payment is received 20 years from today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Value today

Financial Management: Theory & Practice
16th Edition
ISBN:9781337909730
Author:Brigham
Publisher:Brigham
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 12MC: (1) What is the value at the end of Year 3 of the following cash flow stream if the quoted interest...
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What is the value today of $6,500 per year, at a discount rate of 7.1 percent, if the first payment is received
6 years from today and the last payment is received 20 years from today?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
Value today
Transcribed Image Text:What is the value today of $6,500 per year, at a discount rate of 7.1 percent, if the first payment is received 6 years from today and the last payment is received 20 years from today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Value today
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