APPENDIX 1: PRESENT VALUE OF R1
Number of Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14%
15% 16% 17% 18% 19% 20% 25%
1 0.9901 0.9804 0.9709 0.9615 0.9524 0.9434 0.9346 0.9259 0.9174
0.9091 0.9