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Suppose your long term goal is to save $1,918 in 4 years for a down a down payment toward a house. If your financial planner
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Answer #1

Answer:

Future Value = $1,918
No. of Year = 4 year
Rate of Interest = 14%

Present Value = Future Value / (1 + Rate of Interest)^No. of Year
Present Value = $1,918 / (1 + 0.14)^4
Present Value = $1,918 / 1.6890
Present Value = $1,135.58

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