Define present value

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Find the following values. Compounding/discounting occurs annually. Round your answers to the nearest cent.

a. The present value of $600 due in 10 year at 3%.

$   

b. The present value of $1,255 due in 10 years at 6%.

$   

c. The present value of $1,255 due in 10 years at 3%.

$   

Define present value.

The present value is the value today of a sum of money to be received in the future and in general is less than the future value.

The present value is the value today of a sum of money to be received in the future and in general is greater than the future value.

The present value is the value today of a sum of money to be received in the future and in general is equal to the future value.

The present value is the value in the future of a sum of money to be received today and in general is less than the future value.

The present value is the value in the future of a sum of money to be received today and in general is greater than the future value.

Reference no: EM131987547

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