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What is the present value of settlement as of today

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Reference no: EM132997845

Problem 1: You tried to sneak a cappuccino into the movie theatre. It spilled on your leg and scalded you. Your lawyer says that you can expect a payout from the coffee shop's insurance company of $10,000 per year for 10 years. The only catch is that the first payment won't happen until the court case is over in 2 years. What is the present value of your settlement as of today? Assume an interest rate of 3%.

Reference no: EM132997845

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