How much do you have to invest today in order to have $5402 in 6 years...

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How much do you have to invest today in order to have $5402 in 6 years if your investment account earns 5% compounded annually Calculate your answer to the nearest dollar and input it as just the number with no dollar sign, commas or decimal points (e.g., 3745)

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Answer 1

Answer #1

The future value of investment is given $5402, we have to calculate its present value, which can be done using the PV function in excel:

=PV(5%,6,0,5402)

=4031

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Answer 2

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How much do you have to invest today in order to have $5402 in 6 years...

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