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Calculate Answers to the Following Using Future Value And/or Present

question 116

Essay

Calculate answers to the following using future value and/or present value tables:
a.What is the present value of receiving $1,000 at the end of each year for 6 years,assuming 7 percent interest compounded annually?
b.What amount must be deposited at the bank today to grow to $300 in five years,assuming 14 percent interest compounded semiannually?


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