Bill expects to receive $3,000 from his grandfather when he graduates from college three years from today.

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Bill expects to receive $3,000 from his grandfather when he graduates from college three years from today. What is the present value of the $3,000 if the relevant interest rate is 6% compounded anually?

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Financial Accounting An Integrated Statements Approach

ISBN: 978-0324312119

2nd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: May 29, 2012 08:21 AM

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Bill expects to receive $3,000 from his grandfather when he graduates from college three years from today.

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Financial Accounting An Integrated Statements Approach

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