What is the value of gift, Finance Basics

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What is the value of gift

Problem:

You just received a $10,000 gift from your grandmother and you wish to save it for a rainy day.

Required:

Question: If interest is 8% compounded daily, what is the value of this gift in 5 years?

$14,693.28
$14,917.59
$14,215.02
$10,010.96

Note: Show step by step solution and I also want complete calculation.

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Finance Basics: What is the value of gift

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Finance Basics: What is the value of gift

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Recent Questions Asked Finance Basics

Q : Pretax cost of debt of frost inc

Q : Annualized cost of the oven

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Ask an Expert for Answer!!

Finance Basics: What is the value of gift

Reference No:- TGS0893572

Recent Questions Asked Finance Basics

Q : Pretax cost of debt of frost inc

Q : Annualized cost of the oven

Q : Calculate the net present value

Q : Shadow cost of equity

Q : What is the value of gift

Q : Total deferred payment price of the garage

Q : Frontier financial corporation

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