Question: HW 2A Question 3 This set of problems is designed to be calculated using the Excel or financial calculator . You can also use algebraic

HW 2A

Question 3

This set of problems is designed to be calculated using the Excel or financial calculator. You can also use algebraic formulas. Do not use financial tables to calculate these problems.

What is the present value of the following future amount?

$488,787, to be received 13 years from now, discounted back to the present at 7 percent, compounded annually.

Round the answer to two decimal places.

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