Question

Using this formula, answer the following. Consider an annuity consisting of three cash flows of $8,000...

Using this formula, answer the following.

Consider an annuity consisting of three cash flows of $8,000 each. If the interest rate is 6%, what is the present value (today) of the annuity if the first cash flow occurs:

  1. Today
  2. One year from today
  3. Two years from today
  4. Five years from today

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