Essay
The Good Fairy has offered to give you $1,000,000 in 20 years. Because of your incredulity, the GF has volunteered to deposit the present value of the $1,000,000 in a trust managed by a bank or insurance company of your choice. How much must the GF deposit if the investment earns 5 percent? 10 percent?
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At 5%: $376,889.48, ...View Answer
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