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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

The interest rate is 7 percent. What is the present value of $150 to be received in 10 years?

To determine

The present value of money.

Explanation

The present value of money can be calculated as follows:

Present value=Future value(1+Interest)Time period=150<

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