Your uncle offers you a stream of payments whose present value, today, is $62,000. There are 15 equal annual payments in the stream. The first payment in the stream occurs seven years from today
If the interest rate is 14%, then what is the value of each payment?
A) $22,156.40
B) $19,435.43
C) $25,258.29
D) $28,794.45
E) $10,094.16
A
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