You are offered a court settlement in the following terms: you will receive 9 equal payments of $8,613 each every year, with the first payment being made 3 years from now. The current annual interest rate is 4%. Assume yearly compounding. What is this settlement worth in present value terms?

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13-06-2024
Business

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You are offered a court settlement in the following terms: you will receive 9 equal payments of $8,613 each every year, with the first payment being made 3 years from now. The current annual interest rate is 4%. Assume yearly compounding. What is this settlement worth in present value terms?

Sagot :

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