Compute the present value of a $5,400 deposit in year 3, and another $4,900 deposit at the end of year 6 using an 9 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value

Compute the present value of a $5,400 deposit in year 3, and another $4,900 deposit at the end of year 6 using an 9 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

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The answer you find on Chegg is incorrect. It is not $2921.71 or $4169.79.

Compute the present value of a $5,400 deposit in year 3, and another $4,900 deposit at the end of year 6 using an 9 percent interest
rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Present value
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