Present value of the future amount
Problem:
What is the present value of the following future amount?
$495,461 to be received 15 years from now, discounted back to the present at 6.36 percent, compounded daily.
Note: Explain the solution in detail.
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What is the present value of the following future amount? $495,461 to be received 15 years from now, discounted back to the present at 6.36 percent, compounded daily.
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