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What is uncle promise worth in today dollars

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Question 1: Assume your uncle will pay you $100 for each of the next two years and $200 in years 3 and these amounts will be paid at year end. Assume the interest rate is 10% for the first two years and 12% for the next two (years 3 and 4). What is your uncle's promise worth in today's dollars? (Round your answer)

1. $317

2. $342

3. $453

4. $512

5. $600

Question 2: Personal financial planning has the main goal of:

1. Saving and investing for future needs

2. Reducing a person's tax liability

3. Managing money to achieve personal economic satisfaction

4. Spending to achieve financial objectives

5. Savings, spending and borrowing based on current needs

Reference no: EM132709939

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