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You recently got hired to work for Hank. You are set to receive an annual bonus...

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Finance

You recently got hired to work for Hank. You are set to receivean annual bonus of $12,900 per year for the next 16 years. Assumethe interest rate is 7.8 percent.

How much more are the payments worth if they arereceived at the beginning of the year rather than the end of theyear?

Answer & Explanation Solved by verified expert
3.9 Ratings (707 Votes)
Present Value of the annual payment if they are received at the end of the year Annual Payment P 12900 Interest Rate r 780 per year Number of years n 16 Years    See Answer
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You recently got hired to work for Hank. You are set to receivean annual bonus of $12,900 per year for the next 16 years. Assumethe interest rate is 7.8 percent.How much more are the payments worth if they arereceived at the beginning of the year rather than the end of theyear?

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