Find the present value of receiving $1000 per year for ten years beginning in year 12 until year 21, assuming an interest rate of 9%.

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Expert Solution

Using Excel Formula , =PV(RATE,NPER,PMT,FV,TYPE) =PV(.09,10,-1000,0,0 ) = $6417.66

NPER = No.of Years including 12 is 10 Years.

jeff jeffy answered 2 years ago

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