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How would the present value change

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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%. If you can help show the work, that would be helpful.

b) How would the present value change if the $600,000 is to be received at the end of 15 years instead? If you can explain the impact and would help if you can show the work?

Reference no: EM132979252

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