Calculation of the present value of money.

Question

The interest rate is 6 percent a year and you expect to receive $1,000 next year and the following year. What is present value of $1,000 to be received in two years? The present value of $1,000 to be received in two years is $____ Answer to 2 decimal places Thanks!

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Chapter 9, Problem 3CQQ

To determine

Calculation of the present value of money.

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