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You will receive $8,000 three years from now. The discount rate is 8 percent. d. Use the formula PV = FV (1/(1+ i ) n

You will receive $8,000 three years from now. The discount rate is 8 percent.

d. Use the formula PV = FV (1/(1+i)ⁿ) to find the present value of $7,800 received three years from now at 8 percent interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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