ECON MICRO (with ECON MICRO Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
ECON MICRO (with ECON MICRO Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
5th Edition
ISBN: 9781305631946
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 13, Problem 4.8P
To determine

The present value of each of the following future payments.

Introduction:

The future value of saving can be calculated by the formula:

FutureValue=Presentvalue(1+Interestrate)T

Presentvalue=dividendreceiveddiscountrate

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