Estimate the time value of money

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A financial company that advertises on television will pay you $57,000 now for annual payments of $9,300 that you are expected to receive for a legal settlement over the next 9 years. Assume you estimate the time value of money at 12 percent. Use the appropriate time value of money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]. (a) What is the present value?

Reference no: EM131059938

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