Apa Cómo Citar
Time Line:
0 1 2 3 4 5 6 7|--------|--------|--------|--------|--------|--------|--------|
5,000 10,000 15,000 X X X X
We know that the present value ofall of these 7 cash flows today (at period 0) is $50,000. Then, start with calculating the present value of the known cash flows:
PV =
PV = $5,000 × 0.9174 +$10,000 × 0.8340 + $15,000 × 0.7582
PV = $4,587.1560 + $8,340.2836 + $11,373.1140 = $24,300.5536
Of course, you can also enter these into the cash flow registerof your financial calculator to calculate their present value, as was done in class.
Then, the present value, as of period 0, of all the four $X payments shouldbe:
$50,000 - $24,300.5536 = $25,699.4464
The four $X payments constitute an annuity that begins at period 3. The PV of this annuity as of period 3 is:
PVA=
The present value of this annuity as of period 0 is:
PV = FV
We know that this present value is equal to $25,699.4464:
$2.5325X = $25,699.4464
X =
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