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question archive An annuity pays $ 15,000 per year

An annuity pays $ 15,000 per year

Subject:FinancePrice: Bought3

An annuity pays $ 15,000 per year. Due to inflation, each year a dollar is worth what $0.970 was worth the
previous year. Payment is made at the beginning of each year. What is the present value of the annuity if it is
paid over three years (starting immediately)?

 

 

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