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Phil Goode will receive $107,000 in 19 years. His friends are very jealous of him. If the funds are discounted back at a rate of

Phil Goode will receive $107,000 in 19 years. His friends are very jealous of him. If the funds are discounted back at a rate of 17 percent, what is the present value of his future pot of gold? Use Appendix B for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

What is the Present Value?

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