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Calculating present value

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The present value of $20,000 (rounded to the nearest dollar) to be received two years from today, assuming an earnings rate of 12% is:

a. $17,860
b. $15,940
c. $14,240
d. $12,720

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We are given the Future Value and we have to find the Present Value. To find the Present Value, we ...

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The solution explains how to calculate the present value given the future value

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