Problem

What is the present value of a stream of 5 end-of-year annual cash receipts of $500 given...

What is the present value of a stream of 5 end-of-year annual cash receipts of $500 given a discount rate of 14%? Use both the appropriate table in the text (Appendix C, Table 2) and the appropriate function in Excel to answer this question.

Table 2 Present Value of Annuity of $1

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