mpounded annually. What is the present value of the investment?

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: The Basic Tools Of Finance
Section: Chapter Questions
Problem 1CQQ
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2. An investment will provide $10,000 at the end of 3 years. The investment receives interest at 12%
compounded annually.
a. What is the present value of the investment?
Transcribed Image Text:2. An investment will provide $10,000 at the end of 3 years. The investment receives interest at 12% compounded annually. a. What is the present value of the investment?
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