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Question : You want to buy a new boat in 3 years

You want to buy a new boat in 3 years that will cost $5,000. You can earn 5% interest on your money (compounded quarterly). Your mom offers to give you a lump sum today for the boat. How much does your mom need to give you today so you can have $5,000 in 3 years? (please show work)

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Finance 5 Months Ago 28 Views
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