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P Flag question How much would you need to deposit in a bank account today in order to have $500 in 3 years if the account ha
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Answer #1

Ans $ 405.54

FV = Future Value
PV = Present Value
r = rate of interest
n= no of period
PV = FV/ (1 + r )^n
PV = 500 / ((1 + 7%/12)^36)
PV = 405.54
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