Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a relative has promised to give dustin $8000 in 13 years. if dustin had the money today, he could have deposited it at a bank

a relative has promised to give dustin $8000 in 13 years. if dustin had the money today, he could have deposited it at a bank that pays 3% interest. whag is the oresent value of his gift

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Risk Management Enterprise Wide Risk Management In Theory And Practice

Authors: Donald Van Deventer, Kenji Imai, Mark Mesler

3rd Edition

1547416157, 9781547416158

More Books

Students also viewed these Finance questions

Question

What steps will Sara need to take to conduct a benefit audit?

Answered: 1 week ago