What is the value today of a money machine that will pay $1,291.00 per year for...

What is the value today of a money machine that will pay $1,291.00 per year for 18.00 years? Assume the first payment is made 6.00 years from today and the interest rate is 9.00%.

Expert Solution

What is the value today of a money machine that will pay $1,291.00 per year for 18.00 years? Assume the first payment is made 6.00 years from today and the interest rate is 9.00%.

$7346.51

Please comment if you face any difficulty and please dont forget to upvote

jeff jeffy answered 2 years ago

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