Theo just won a prize that will pay him $12,000 a year for 12 years, starting at the end of Year 12. What is the current value of this prize if the discount rate is 9 percent, compounded annually?
Theo just won a prize that will pay him $12,000 a year for 12 years, starting at the end of Year 12. What is the current value of this prize if the discount rate is 9 percent, compounded annually?
