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Use both the TVM equations and a financial calculator to find the following values. ( Hint: If you are using a financial calculator, you can
Use both the TVM equations and a financial calculator to find the following values. Hint: If you are using a financial calculator, you can enter the known values and then press the
appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering a new value for it and then pressing
the key for the unknown variable to obtain the second answer. This procedure can be used in parts b and d and in many other situations, to see how changes in input variables affect the
output variable. Do not round intermediate calculations. Round your answers to the nearest cent.
a An initial $ compounded for years at
$
b An initial $ compounded for years at
$
c The present value of $ due in years at an discount rate.
$
d The present value of $ due in years at a discount rate.
$
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