Homework Answers
Ans $ 311804.73
| FV = | Future Value |
| PV = | Present Value |
| r = | rate of interest |
| n= | no of period |
| PV = | FV/ (1 + r )^n |
| PV = | 1,000,000 / ((1 + 6%)^20) |
| PV = | 311804.73 |
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