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John being profligate wants instead to spend the settlement

John just received a settlement in a lawsuit that promises $270 in 7 years. The lawsuit will also pay him a second amount of $490 that will be received in 12 years. John, being profligate, wants instead to spend the settlement money today. What is the present value of his settlement assuming the interest rate of 6.50%?

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Finance Basics: John being profligate wants instead to spend the settlement

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Finance Basics: John being profligate wants instead to spend the settlement

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