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How much money will you receive now

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Reference no: EM132930173

Question - You recently slipped and fell in a store. The insurance company for the store agrees to pay you five payments of $10,000 each at the end of each of the next five years. You can't wait that long!

If company ABC agrees to pay you a lump sum today discounted at 15% to purchase those five future payments from you, how much money will you receive now in exchange for the five future payments? (Please enter your answer as a positive number)

Reference no: EM132930173

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