Present Value What is the present value of a $3,200 deposit in year 3 and another $3,700 deposit at the end of year 7 if interest rates are 8 percent?Multiple ChoiceО$4,026.08$4,699.18О$4,783.24О$3,036.00

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Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 13E

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Present Value What is the present value of a $3,200 deposit in year 3 and another $3,700 deposit at the end of year 7 if interest rates are 8 percent? Multiple Choice О $4,026.08 $4,699.18 О $4,783.24 О $3,036.00