What is the annual worth of this pension

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Reference no: EM131079638

Shepherd Book invests $15,000 in a pension. During the first year, the pension will be worth $1,000, the second year $2,000, the third year $1,000, and the fourth year $2,000, and so on.

The pension lasts for 10 years.

What is the annual worth of this pension to Rev. Book, given that he has a discount rate of 9% ?

Reference no: EM131079638

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