What is the value today of a money machine that will pay $1,902.00 every six months for 20.00 years? Assume the first payment is made six months from today and the interest rate is 12.00%.
What is the value today of a money machine that will pay $2,322.00 per year for 26.00 years? Assume the first payment is made today and that there are 26.0 total payments. The interest rate is 7.00%.