Your best friend won the state lottery and has offered to give you 500,000 in seven years, after he has made his first million. You figure that if you had the money now, you could invest it at 10% annual interest. What is the value today of your friend's future gift? answer in whole number figure w/ comma
Your best friend won the state lottery and has offered to give you 500,000 in seven years, after he has made his first million. You figure that if you had the money now, you could invest it at 10% annual interest. What is the value today of your friend's future gift? answer in whole number figure w/ comma
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 14P
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Your best friend won the state lottery and has offered to give you 500,000 in seven years, after he has made his first million. You figure that if you had the money now, you could invest it at 10% annual interest. What is the value today of your friend's future gift? answer in whole number figure w/ comma
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