Phil fanner just sold his farm to his nephew and financed, Ask an Expert

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Phil Fanner just sold his farm to his nephew and financed it with the following terms. The nephew will pay Phil $600/acre each year for the next 30 years. What is the equivalent sales price that Phil is receiving for his land, given in today's dollars, if his discount rate is 4%?

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Financial Management, Finance

Category:- Financial Management
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