What is the present value of the checks
Problem
Beginning in 7 years, (beginning of years 7, 8 and 9) Sally Mander will receive three annual benefit checks of $20,000 each. If Sally assumes an interest rate of 5%, what is the present value of these checks?
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Beginning in 7 years, (beginning of years 7, 8 and 9) Sally Mander will receive three annual benefit checks. What is the present value of these checks?
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