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Chapter 1

Q. 1.3

Present worth. You wish to have $30K in 10 years. If you can invest
your money at 9.5% interest per year compounded, how much money do you have to invest today?


Verified Solution

Rearranging Equation 2.1:

P=F/ (1+i)^{n} = 30,000/(1+ 0.095) ^{10} = $12,105