What is the present value of 1500 received for 24 months in
What is the present value of $1,500 received for 24 months in arrears, followed by $1,200 received for 36 months in arrears, if the annual discount rate appropriate is 9.25%?
a. $62,261
b. $13,984
c. $15,764
d. $64,022
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