Question: Basic present Values Concepts In three years, when he is discharged from the Air Force, Steve wants to buy an $8,000 power boar. Required: What

Basic present Values Concepts In three years, when he is discharged from the Air Force, Steve wants to buy an $8,000 power boar.


Required:

What lump-sum amount must Steve invest now to have the $8,000 at the end of three years if he can invest money at:

1.         Ten percent?

2.         Fourteen percent?

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