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If the interest rate is 4%, the present value of $1000 received at the end of 3 years is 5970 $1,040 $889. $961
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Time period = 3 years rate of interest (r) = 4% = 0.04 Amount = $1000 Let present value of $1000 received at the end of 3 yeaIf the interest rate is 4%, the present value of $1000 received at the end of 3 years is 5970 $1,040. $889. $961.

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