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mylen [45]
3 years ago
13

Please help. i get two diff ans.

Mathematics
1 answer:
alexira [117]3 years ago
7 0
<span>Present value = Future value / [1+ {Interest rate}]^n where n is the duration of investment.----------(1) Given : Interest rate = 3%, Duration, n = 3 years. Plugging in the values in the above equation (1) Present value = (4370.91) / (1+3%)^3 Present value = 4370.91/(1.03^3) Present value = 4370.91/1.0927 Present value = $ 4000.</span>
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