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Your aunt plans to give you $17,000 in exactly 3 years' time. You are needing funds now so she agrees instead to give you the
Your aunt plans to give you $17,000 in exactly 3 years' time. You are needing funds now so she agrees instead to give you the equivalent amount today, allowing for the time value of money. She stipulates an interest rate of 8.3%p.a. compounding monthly. The amount she is prepared to give you is closest to: a. $13264 b. $200825 c. $13383 O d. $13287
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