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If the interest rate this year is 8.4% and the interest rate next year will be 10.4%, what is the future value of $1 after 2 years?

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Question 1: What is the present value of a payment of $1 to be received in 2 years? Explain in detail and provide step by step solution.

Future value $

Present value $

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91146256

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