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Part $1$

Present value concept$$Answer each of the following questions.

a$.$ How much money would you have to invest today to accumulate $$$$3$ comma $500$ after $4$ years if the rate of return on your investment is$15\%?$

b$.$ What is the present value of $$$$3$ comma $500$ that you will receive after $4$ years if the discount rate is $15\%?$

c$.$ What would you be willing to spend today for an investment that will pay $$$$3$ comma $500$ in $4$ years if your opportunity cost is

$15\%?$ If you could buy the investment for less than$$ that, what would that imply about your rate of$$ return?

d$.$Compare$,$ contrast, and discuss your findings in part a through c$.$

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Part $1$

a$.$A single investment made$$ today, earning $15\%$ annual$$ interest, worth $$$$3$ comma $500$ at the end of $4$ years is$$$

$$

enter your response here.$($Round to the nearest$$ cent.$)$