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You plan to invest $1,000 on the last day of every year for the next five...

You plan to invest $1,000 on the last day of every year for the next five years, if the interest rate on the investment is 6 percent, the present value of your investment is....

Solutions

Expert Solution

Calculating Present Value,

Using TVM Calculation,

PV = [FV = 0, PMT = 1,000, N = 5, I = 0.06]

PV = $4,212.36

jeff jeffy answered 2 years ago
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