A friend owes you $500 in 1 year from now, and then $1000 2 years from now.

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A friend owes you $500 in 1 year from now, and then $1000 2 years from now. Both loans are at 5%. If you want to replace both of these loans with ONE PAYMENT NOW, how much would your friend give you ?

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Personal Financial Planning

ISBN: 9781439044476

12th Edition

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

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Posted Date: Apr 17, 2024 04:09 AM

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A friend owes you $500 in 1 year from now, and then $1000 2 years from now.

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To calculate the present value of the future payments w... View the full answer

Personal Financial Planning

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