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Jackson just received a settlement in a lawsuit that promises two future payments of $570,

Jackson just received a settlement in a lawsuit that promises two future payments of $570,

Jackson just received a settlement in a lawsuit that promises two future payments of $570, the first payment at the end of the 6th year, and the second at the end of the 11 year. Jackson, being profligate, doesn't want to wait and instead wants instead to spend all of the settlement money today. What is the present value of his settlement assuming the interest rate of 5%?

Abhinav 04-Dec-2019

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