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The Solution to This Problem Requires Time Value of Money

Question 139

Multiple Choice

The solution to this problem requires time value of money calculations.Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations.
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The present value of $7,000 to be received in seven years at 7% compounded annually is


A) $3,430.
B) $6,657.
C) $4,361.
D) $7,000.

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