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Solve various time value of money scenarios. Click the icon to view the scenarios.) (Click the icon to view the present value of $1
Solve various time value of money scenarios. Click the icon to view the scenarios.) (Click the icon to view the present value of $1 table.) (Click the loon 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. Frank just hit the jackpot in Las Vegas and won $45,000! If he invests it now, at a 14% interest rate, how much will it be worth in 20 years? (Round your answer to the nearest whole dollar.) Future value Scenario 2. Inman would like to have $2,000,000 saved by the time he retires in 40 years. How much does he need to invest now at a 14% interest rate to fund his retirement goal? (Round your answer to the nearest whole dollar.) Present value
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