Textbook Problem

Refer to the present value table information on the previous page. What amount should be deposited in a bank today to grow to $1,000 3 years from today?

1. a. a. $\frac{\$1,000}{0.794}$
2. b. $1,000 × 0.926 × 3
3. c. ($1,000 × 0.926) + ($1,000 × 0.857) + ($1,000 × 0.794)
4. d. $1,000 × 0.794