PV of a Growing Annuity An investment offers the following cash flows: $1000 in one year,...

PV of a Growing Annuity

An investment offers the following cash flows: $1000 in one year, followed by 9 more annual payments (years 2-10) that grow at a rate of 7% per year. If your opportunity cost is 8% per year, the PV today of this stream of cash flows is $______________. Margin of error for correct responses: +/- $.05.

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