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You were just given $10,000 by your grandmother to help pay off your student loans. After you graduate undergrad you plan to
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Answer #1

Present value = $ -10,000
Rate = 4%
Period = 4 years

Future value = Present value * ( 1 + rate)^periods
Future value = $10,000 * ( 1 +0.04)^4
Future value = $10,000 * 1.16986
Future value = $11,698.60

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