A sum of money has a value of $3000 eighteen months from now. If money is worth

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A sum of money has a value of $3000 eighteen months from now. If money is worth 6% compounded monthly, what is its equivalent value?
(a) Now?
(b) One year from now?
(c) Three years from now?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:50 AM

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A sum of money has a value of $3000 eighteen months from now. If money is worth

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Contemporary Business Mathematics with Canadian Applications

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