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Problem:

What is the present value of $1,100 per year, at a discount rate of 10 percent if the first payment is received 6 years from now and the last payment is received 30 years from now?

a. $6,200

b . $6,239

c. $6,333

d. $6,420

e. $6,511

Explain in detail and show all work.

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Category:- Basic Finance
Reference No.:- M91147370

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