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Solve for table below please & sankiu :) that was all the information provided 470 Chapter 10 LO 10-1 Exercise 10-2A Determining the present value
Solve for table below please & sankiu :) that was all the information provided 470 Chapter 10 LO 10-1 Exercise 10-2A Determining the present value of a lump-sum future cash receipt Larry Mattingly turned 20 years old today. His grandfather had established a trust fund that will pay him $120,000 on his next birthday. However, Larry needs money today to start his college education, and his father is willing to help. Mr. Mattingly has agreed to give Larry the present value of the $120.000 future cush inflow, assuming a 6 percent rate of return. Required Round your figures to the nearest whole dollar. a. Use a present value table to determine the amount of cash that Larry Mattingly's father should give him b. Use an algebraic formula to prove that the present value of the trust fund (the amount of cash computed in Requiremental) is equal to its $120,000 future value. 470 Chapter 10 LO 10-1 Exercise 10-2A Determining the present value of a lump-sum future cash receipt Larry Mattingly turned 20 years old today. His grandfather had established a trust fund that will pay him $120,000 on his next birthday. However, Larry needs money today to start his college education, and his father is willing to help. Mr. Mattingly has agreed to give Larry the present value of the $120.000 future cush inflow, assuming a 6 percent rate of return. Required Round your figures to the nearest whole dollar. a. Use a present value table to determine the amount of cash that Larry Mattingly's father should give him b. Use an algebraic formula to prove that the present value of the trust fund (the amount of cash computed in Requiremental) is equal to its $120,000 future value
Solve for table below please & sankiu :)
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