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The GEM Company just purchased upgraded CAD software for $20,000 now and annual payments of $600...

The GEM Company just purchased upgraded CAD software for $20,000 now and annual payments of $600 per year for 10 years starting 3 years from now for annual upgrades. What is the present worth in year 0 of the payments if the interest rate is 6% per year? solve it in Excel, shoe formula

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Solution: Given software purchased = 820,000 annual payments = $ 600 per year n = 10 years (starting 3 yrt from now) of the p

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