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assume that you have a lump sum $825 that you are investing for 3 years at...

assume that you have a lump sum $825 that you are investing for 3 years at a nominal rate of 7%. what is the expected future value?

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Answer #1

This question requires application of basic time value of money function, according to which EV PV (1 where FV is Future Valu

FV = $825 * (1 + 7%)3

FV = $825 * 1.2250

FV = $1,010.66

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