Future and Present Values
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(a) If you deposit $200 in the bank today, what is its future value at the end of three years if it is invested in an account paying 12% annual interest, assuming annual compounding?
(b) What is the present value of $200 to be received in three years if the appropriate interest rate is 12% (annual compounding)?
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(a) If you deposit $200 in the bank today, what is its future value at the ...
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