Personal Finance Tax Update
Personal Finance Tax Update
13th Edition
ISBN: 9780357438947
Author: E. Thomas Garman; Raymond Forgue
Publisher: Cengage Learning US
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Chapter 2, Problem 3DTM
Summary Introduction

To calculate:The future value of employer’s contribution.

Introduction:Time value of money is the concept of finance which calculates the effect of time over the value of money. As per this concept the present value of a future amount is lower than the future value. The present value/ future value of an amount are calculated using the interest rate as discount rate.

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