Exercise 9-7 Calculate Present Value 1 answer below »
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Chapter 9 Exercise 9-7 Calculate Present Value [LO 2] Juanita Martinez is ready to retire and has a choice of three pension plans. Plan A provides for an immediate cash payment of $200,000. Plan B provides for the payment of $20,000 per year for 10 years and the payment of $200,000 at the end of year 10. Plan C will pay $35,000 per year for 10 years. Juanita Martinez desires a return of 8 percent. Determine the present value of each plan and select the best one.
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