FIN 509 - Essentials-Fundamentals of Finance Assignment

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FIN 509 - Essentials/Fundamentals of Finance Assignment - Jacksonville University, USA

Problem - An insurance company is offering a new policy to its customers. The detail of the policy is as follows. The purchaser makes the following five payments to the company.

First year

$500

Second year

$600

Third year

$700

Fourth year

$800

Fifth year

$900

Required - Assume that the interest rate is 10%. How much is the lump sum value of the five payments as of today?

Reference no: EM132461524

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