What is the present value of security

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Reference no: EM131612327

Present value

1. What is the present value of a security that will pay $46,000 in 20 years if securities of equal risk pay 3% annually? Round your answer to the nearest cent.

2. If you deposit money today in an account that pays 7% annual interest, how long will it take to double your money? Round your answer to two decimal places.

years

Reference no: EM131612327

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