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Solve various time value of money scenarios. (Click the icon to view the scenarios.) (Cick the icon to view the present value of $1
Solve various time value of money scenarios. (Click the icon to view the scenarios.) (Cick the icon to view the present value of $1 table) (Click the icon to view the future value of $1 table) (Click the icon to view the present value of annuity of $1 table) (Click the icon to view the future value of annuity of $1 table) Scenario 1. Daniel just hit the jackpot in Las Vegas and won $45,000 if he invests it now, at a 10% interest rate, how much will it be worth in 20 years? (Round your answer to the nearest whole doftr.) Future value Scenario 2. Donald would like to have $3,500,000 saved by the time he retres in 30 years. How much does he need to invest now at a 10% interest rate to fund his retirement goal? (Round your answer to the nearest whole dollar) Present value Scenario 3. Assume that Nancy accumulates savings of $1 million by the time she retires if she invests this savings at 12%, how much money will she be able to withdraw at the end of each year for 20 years? Round your answer to the nearest whole dollar and enter as a positive amount) Amount able to withdraw
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