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The amount a person would have to deposit today ( present value ) at a 1 0 percent interest rate to have $ 3 ,

The amount a person would have to deposit today

(

present value

)

at a

10

percent interest rate to have $

3, 100

five years from now.

Use the TVM keys on your calculator

. . .

NOT the tables in the book

Enter your answer as a negative value in the form:

-

n, n .

Numeric Response

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