Assume that you borrowed money from your grandmother to attend college. Your deal with her is that you will pay her $1,000 per year for the next ten years with the first payment occurring at the end of this year. If your discount rate is 5%, what is the present value of these ten payments?
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Home » Business » Assume that you borrowed money from your grandmother to attend college. Your deal with her is that you will pay her $1,000 per year for the next ten years with the first payment occurring at the end of this year.