PERSONAL FINANCE
PERSONAL FINANCE
5th Edition
ISBN: 9781308498706
Author: Kapoor
Publisher: McGraw Hill
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Chapter 1, Problem 9FPP
Summary Introduction

To determine:

The amount to be deposited today to withdraw $15,000 per year for 3 years.

Introduction:
Present value is the discounted value to be invested or deposited today to achieve a particular amount in the future. The present value is the current value of the money which is calculated pre interest and pre inflation rates.

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