What is the present value of this annuity today if the


An annuity will pay an annual amount of $50,000 per year at the end of the year for the next 20 years. This is total of $1 million over the life of the annuity. What is the present value of this annuity TODAY if the interest rate is 10%?

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Financial Management: What is the present value of this annuity today if the
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