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What is the present value of the cash-flow stream

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Reference no: EM132342125

Your wealthy uncle established a bank account with $2,600 for you when you were born. For the first 7 years of your life, the interest rate earned on the account was 5%. Since then, rates have been only 3%. Now you are 22 years old and ready to cash in. How much is in your account? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

What is the present value of the following cash-flow stream if the interest rate is 4%? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Year   Cash Flow

1          $270

2           470

3           370

Reference no: EM132342125

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