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Given below are the present value factors for $1.00 discounted at 9% for one to five periods. Interest is compounded annually

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Answer #1

As per excel the formula which shall be sued is: +PV(9%,3,,13000) =$10,038(apprx.)

So to accumulate $13,000 three years from today, we have to deposit $10,038 in bank today.

So $13,000 X 0.772 =$10,036.

So Option C is answer

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