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Find what is the present value of the gift

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Question 1: Your rich aunt has promised to give you $4,000 per year at the end of each of the next four years to help you pay for college. Using a discount rate of 4%,what is the present value of the gift.

Option 1: $16,000

Option 2: $14,520

Option 3: $3,422

Option 4: $34,000

Reference no: EM132594335

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