Find present value of five-year ordinary annuity
Which is greater, the present value of a five-year ordinary annuity of $300 discounted at 10%, or the present value of a five-year ordinary annuity of $300 discounted at 0% that has its first cash flow six years from today?
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The present value of a five-year ordinary annuity of $300 discounted at 0% that has its first cash flow six years from today?
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