1. What is the present value of $2,625 per year, at a discount rate of 9 percent, if the first payment is received 7 years from now and the last payment is received 21 years from now?
2. How can i calculate the duration of the bond if cash flows are negative?
3. Why is it important to plan for the amount and timing of cash inflows and outflows? What is cash and how does it differ from profits, in the context of a small business? How do the economic and accounting definitions of cash differ?