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Suppose you are to receive a stream of annual payments (also called an "annuity") of $9000 every year for 3 years starting this year. This discount rate is 6%. What is the present value of these three payments? Show all your steps and demonstrate a good understanding.
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Assume you're to receive the stream of annual payments (also called an "annuity") of $9000 every year for three years starting this year. The discount rate is 6%. What is the present value of such three payments?
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