Homework Answers
$ 423.91
| Present value | = | F*(1+i)^-n | Where, | |||
| = | 2268*(1+0.15)^-12 | F | Future value | $ 2,268 | ||
| = | $ 423.91 | i | Interest rate | 15% | ||
| n | time | 12 | ||||
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