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%.

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter1: Understanding Personal Finance
Section1.4: Perform Time Value Of Money Calculations
Problem 3CC
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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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