What is the present value of a security

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Present and Future Value

a. If you deposit $9,000 in a bank account that pays 8% interest annually, how much will be in your account after 5 years? Round your answer to the nearest cent. _________

b. What is the present value of a security that will pay $35,000 in 20 years if securities of equal risk pay 3% annually? Round your answer to the nearest cent. _________

Reference no: EM131313283

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