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John needs $150,000 in five years. If John can invest at 6%, how much will he invest now in order to have $150,000 in five years? Present value of $1: 7% 8% 9% 5% 6% 3 0.864 0.840 0.816 0.794 0.772 4 0.823 0.792 0.763 0.735 0.708 56 0.784 0.747 0.713 0.681 0.650 0.746 0.705 0.666 0.630 0.596

John needs $150,000 in five years. If John can invest at 6%, how much will he invest now in order to have $150,000 in five years? Present value of $1: 7% 8% 9% 5% 6% 3 0.864 0.840 0.816 0.794 0.772 4 0.823 0.792 0.763 0.735 0.708 56 0.784 0.747 0.713 0.681 0.650 0.746 0.705 0.666 0.630 0.596

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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John needs $150,000 in five years. If John can invest at 6%, how much will he invest now in order to have $150,000 in five years? Present value of $1: 7% 8% 9% 5% 6% 3 0.864 0.840 0.816 0.794 0.772 4 0.823 0.792 0.763 0.735 0.708 56 0.784 0.747 0.713 0.681 0.650 0.746 0.705 0.666 0.630 0.596
Transcribed Image Text:John needs $150,000 in five years. If John can invest at 6%, how much will he invest now in order to have $150,000 in five years? Present value of $1: 7% 8% 9% 5% 6% 3 0.864 0.840 0.816 0.794 0.772 4 0.823 0.792 0.763 0.735 0.708 56 0.784 0.747 0.713 0.681 0.650 0.746 0.705 0.666 0.630 0.596
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