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Find the present value of the remaining obligation

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Question 1: An insurance company is making annual payments under the settlement provisions of a personal injury lawsuit. A payment of $24,000 has just been made and ten more payments are due. Future payments are indexed to the Consumer Price Index which is assumed to increase at 5% per year. Find the present value of the remaining obligation if the assumed interest rate is 8%. Use the exact value of i' .

Reference no: EM132858950

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