How do I calculate the present value on a deferred annuity for $75,000 for 3 years at an interest rate of 7%.
Mary has been working at the university for 25 years, with an excellent record of service. As a result, the board wants to reward her with a bonus to her retirement package. They are offering her $75,000 a year for 20 years, starting one year from her retirement date and each ...
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