A financial contract pays $1,000 at the end of each year for four years and the appropriate discount rate is 4 percent? What is the present value of these cash flows?

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# A financial contract pays $1,000 at the end of each year for four years and the appropriate discount rate is

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A financial contract pays $1,000 at the end of each year for four years and the appropriate discount rate is 4 percent? What is the present value of these cash flows?