Your rich uncle has just given you a high school graduation present of $1,900,000. The present, however, is in the form of a 13-year bond with an annual interest rate of 4.1% compounded annually. The bond says that it will be worth $1,900,000 in 13 years. What is this gift worth at the present time? (Round your answer to the nearest cent.) $
Your rich uncle has just given you a high school graduation present of $1,900,000. The present, however, is in the form of a 13-year bond with an annual interest rate of 4.1% compounded annually. The bond says that it will be worth $1,900,000 in 13 years. What is this gift worth at the present time? (Round your answer to the nearest cent.) $
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Your rich uncle has just given you a high school graduation present of $1,900,000. The present, however, is in the form of a 13-year bond with an annual interest rate of 4.1% compounded annually. The bond says that it will be worth $1,900,000 in 13 years. What is this gift worth at the present time? (Round your answer to the nearest cent.)
$
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