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how much would you have to invest today to receive 12000 in 6 years assuming a 12 percent interest rate? okay so before you answer,
how much would you have to invest today to receive 12000 in 6 years assuming a 12 percent interest rate?
okay so before you answer, please note, I am not using excel, so I won't understand any excel variables you use. I just write these on paper. I am currently using PV=FV(1/(1+i)^n. in this case I put in the numers as PV=12000(1/(1+0.12)^12 and get 3080.10. however when I look up the answer, it's different. what am I doing wrong?
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