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a) If we want 6,000 four years from now and the compounded interest rate is 8%, how much should we invest today? (3 Marks) b)
a) If we want 6,000 four years from now and the compounded interest rate is 8%, how much should we invest today? (3 Marks) b) You are scheduled to receive 10,000 in three years. When you receive it, you will invest it for five more years at 12% per year. How much will you have in eight years? (3 Marks) c) Find the present value of a 12,000 that will be paid 5 years from today if the interest rate is 6% per year compounded annually
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