In: Finance
Assume that you pay $10,000 to receive $2,000 per year in years 1 through 5. $3,000 per years in years 6 through 8, and $4,000 in year 9, with cash flows to be received at the end of the year. If you require a 14% rate of return, what is the NPV of these cash flows?
PLEASE EXPLAIN HOW TO DO THIS WITH A FINANCIAL CALCULATOR NOT THE FORMULA
Step by step. Please give small details that you may think are not significant but they are to me.
The correct answer is $1,713.54
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SOLVED WITH BA II PLUS CALCULATOR