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Using simple interest, what is the present value of $ 1 7 , 0 0 0 received in 8 years with an effective interest rate

Using simple interest, what is the present value of $

17, 000

received in

8

years with an effective interest rate per year of

14 % ?

Answer should be rounded to the nearest dollar.

Based on the same information as above, but using compound interest, what is the present value? Answer should be rounded to the nearest dollar.

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