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Determine the present value of goal using a discount rate

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Problem a) Melanie is trying to save money for retirement and has a future goal of $600,000 at the end of 20 years. Determine the present value of her goal using a discount rate of 11%.

Problem b) How would the present value change if the $600,000 is to be received at the end of 15 years instead? Explain the impact and show your work?

Reference no: EM132834204

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