What is the value of annuity today

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You expect to receive $100,000 per year for the next 25 years. The payments are to be made on June 30th of each year, with the first payment on June 30, 2001. If the annual discount rate is 10% and the 6-month rate is (1+.10)1/2, then what is the value of this annuity today (assuming today is 1/1/2001)?

Reference no: EM132203923

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