Question Description
I’m working on a other practice test / quiz and need an explanation to help me study.
You have just purchased an investment that generates the following cash flows for the next four years. You are able to reinvest these cash flows at 3.2 percent, compounded annually.
End of year
1. $3,196
2. $4,284
3. $4,978
4. $3,995
What is the present value of this investment if 3.2 percent per year is the appropriate discount rate?
Round the answer to two decimal places.
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