Rusty steele will receive the following payments at the end


Rusty Steele will receive the following payments at the end of the next three years: $12,000, $15,000, and $17,000. Then from the end of the fourth year through the end of the tenth year, he will receive an annuity of $18,000.

At a discount rate of 10 percent, what is the present value of all future benefits?

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Financial Econometrics: Rusty steele will receive the following payments at the end
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