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6.3 Exercise 21

Avg difficulty 2.5

Compute the present value of the investment described. Interpret the result.

  1. FVF V = $10,000, tt = 15 years, annual simple interest rate of 5.5%
  2. FVF V = $150,000, tt = 20 years, annual simple interest rate of 6.25%
  3. FVF V = $250,000, tt = 486 months, annual simple interest rate of 4.75%

OpenStax Contemporary Mathematics, 6.3 Simple Interest, exercise 21

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Adapted from Contemporary Mathematics © 2023 Rice University. Licensed under CC BY 4.0. Source: Contemporary Mathematics. Imported at revision fa7c1a1.