Determine at what age john will receive the second payment

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Reference no: EM131934149

John is 50 years old. He will recieve 2 payments of $ 3000 each. The first payment will be an unknown number of years in the future. The second payment will be 8 years after the first payment. At an effective annual rate of interest of 6 %, the present value of the two payments is $ 4862. Determine at what age John will receive the second payment.

Reference no: EM131934149

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