Determine the present value of an investment of $3,000 made one year from now and an additional $3,000 made two years from now if the annual discount rate is 4%.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 29P
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General Accounting

Determine the present value of an investment of
$3,000 made one year from now and an additional
$3,000 made two years from now if the annual
discount rate is 4%.
Transcribed Image Text:Determine the present value of an investment of $3,000 made one year from now and an additional $3,000 made two years from now if the annual discount rate is 4%.
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