Kelly greene has a contract in which she will receive the


Kelly Greene has a contract in which she will receive the following payments for the next five years: $4,000, $5,000, $6,000, $7,000 and $8,000. She will then receive an annuity of $10,000 a year from the end of the 6th through the end of the 15th year. The appropriate discount rate is 15 percent.

What is the present value of all future payments?

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Financial Econometrics: Kelly greene has a contract in which she will receive the
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