Michael Carter is expecting an inheritance of $1.25 million in four years. If he had the money

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Michael Carter is expecting an inheritance of $1.25 million in four years. If he had the money today, he could earn interest at an annual rate of 7.35 percent. What is the present value of this inheritance?

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Fundamentals of corporate finance

ISBN: 978-0470876442

2nd Edition

Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates

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Question Posted: Jun 08, 2012 01:25 AM

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Michael Carter is expecting an inheritance of $1.25 million in four years. If he had the money

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Fundamentals of corporate finance

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