His friends are very jealous of him if the funds are, Financial Management

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His friends are very jealous of him if the funds are

Phil Goode will receive $111,000 in 18 years. His friends are very jealous of him. If the funds are discounted back at a rate of 15 percent, what is the present value of his future “pot of gold”? Use Appendix B for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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