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Jon is to receive 10 annual payments where the first payment of 10,000 will be paid in one ye Payments in years 2-10 will increase by an annual rate of 5%. The present value of these payments using an annual effective interest rate of 8% is X. Calculate X. A 78,380 B с D E 81,836 85,928 88,382 183,200

Jon is to receive 10 annual payments where the first payment of 10,000 will be paid in one ye Payments in years 2-10 will increase by an annual rate of 5%. The present value of these payments using an annual effective interest rate of 8% is X. Calculate X. A 78,380 B с D E 81,836 85,928 88,382 183,200

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 14P
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Jon is to receive 10 annual payments where the first payment of 10,000 will be paid in one year. Payments in years 2-10 will increase by an annual rate of 5%. The present value of these payments using an annual effective interest rate of 8% is X. Calculate X. A 78,380 B с D E 81,836 85,928 88,382 183,200
Transcribed Image Text:Jon is to receive 10 annual payments where the first payment of 10,000 will be paid in one year. Payments in years 2-10 will increase by an annual rate of 5%. The present value of these payments using an annual effective interest rate of 8% is X. Calculate X. A 78,380 B с D E 81,836 85,928 88,382 183,200
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