How much would you need to invest today to reach future goal

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Reference no: EM131350624

1. You want to invest money for 3 years in an account that pays 7 percent interest annually. How much would you need to invest today to reach a future goal of $5,000? (Round your answer to the nearest cent.)

A. $4,650.00

C. $4,762.90

B. $6,125.22

D. $4,081.49

2. What is the present value of $2,200, discounted at 10 percent interest per period, for one period? (Round your answer to the nearest cent.)

A. $2,420.00

C. $1,818.18

B. $2,000.00

D. $1,980.00

Reference no: EM131350624

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