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Imagine your best friend has just had a first baby and asks you to become godparent. You offer to put together some money to finance

Imagine your best friend has just had a first baby and asks you to become godparent.

You offer to put together some money to finance the child's driver's license: either

you give the new parents $ $900$ today or $ $2, 200$ in $15$ years. Given the $3.5 %$ interest

rate on savings, what is the current worth of that future money??

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