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Present Value
The current worth of a future sum of money or stream of cash flows given a specified rate of return.
Unequal Lives
A term used in capital budgeting to describe projects or investments with different durations.
Replacement Chain Method
A capital budgeting technique that compares different investment projects with unequal lifespans by calculating their equivalent annual cost.
Equivalent Annual Annuity
Equivalent Annual Annuity is a calculation used to compare the annualized cash flows of projects or investments with different durations.
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