Johnson has an annuity due that pays $600 per year for 15 years. What is the value of the cash flows 15 years from today  if there are places in an account that earns 7.50%?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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Johnson has an annuity due that pays $600 per year for 15 years. What is the value of the cash flows 15 years from today  if there are places in an account that earns 7.50%?

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