Question: 413 Present value Jim Nance has been offered a future payment of $500 three years from today. If his opportunity cost is 7% compounded annually,

4–13 Present value Jim Nance has been offered a future payment of $500 three years from today. If his opportunity cost is 7% compounded annually, what value should he place on this opportunity today? What is the most he should pay to purchase this payment today?

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