What is the present value

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 29P
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What is the present value of a cash flow stream of $1,000 per year annually for 14 years that then grows at 2.8 percent per year forever
when the discount rate is 12 percent? (Round Intermediate calculations and final answer to 2 decimal places.)
Present value
Transcribed Image Text:What is the present value of a cash flow stream of $1,000 per year annually for 14 years that then grows at 2.8 percent per year forever when the discount rate is 12 percent? (Round Intermediate calculations and final answer to 2 decimal places.) Present value
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