Question: Given below are the present value factors for $1.00 discounted at 9% for one to five periods. Interest is compounded annually at 9%. Periods Present

Given below are the present value factors for $1.00 discounted at 9% for one to five periods. Interest is compounded annually at 9%.

Periods

Present Value of $1 Discounted at 9% per Period

1

0.917

2

0.842

3

0.772

4

0.708

5

0.650

What amount should be deposited in a bank today to grow to $13000 three years from today?

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