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If you borrow $1,000 from Sac State at zero percent interest for six years and invest it at 10%, spending the earnings each year, until
If you borrow $1,000 from Sac State at zero percent interest for six years and invest it at 10%, spending the earnings each year, until you pay it off at the end of the 6th year, what is the approximate present value of that gift to you at the end of the 2nd year?
a. $91
b. $83
c. $75
d. $100
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Financial Management For Nurse Managers And Executives
Authors: Cheryl Jones, Steven A. Finkler, Christine T. Kovner
4th Edition
