Your brother has offered to give you either $35,000 today or $70,000 in 11 years. If the interest rate is 6% per year, which option is preferable? The present value of the future amount (amount received in 11 years) is $ (Round to the nearest dollar.)

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
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Your brother has offered to give you either $35,000 today or $70,000 in 11 years. If the interest rate is 6% per year,
which option is preferable?
The present value of the future amount (amount received in 11 years) is $
(Round to the nearest dollar.)
Transcribed Image Text:Your brother has offered to give you either $35,000 today or $70,000 in 11 years. If the interest rate is 6% per year, which option is preferable? The present value of the future amount (amount received in 11 years) is $ (Round to the nearest dollar.)
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