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3. a) What is the future value of $1,830.5? The time horizon is 11 years and the discount rate is 8.5%. b) You are paid

a) What is the future value of $1,830.5? The time horizon is 11 years and the discount rate is 8.5%.

b) You are paid $3,208 27 months from now. Your monthly rate is 1.83%. What is the current value of the money?

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