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A relative wills you an annuity paying $1000 per quarter for the next 4 years. If money is worth 12% compounded quarterly, what is the present value of this annuity? Round your answer to two digits!

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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