Present and future value tables of $1 at 3% are presented below: N FV S1 PV $1 FVA S1 PVA S1 FVAD S1 PVAD S 1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.0 Bill wants to give Maria a $530,000 gift in 7 years. If money is worth 6% compounded semiannually, what is Maria's gift worth today? A) $527,250. B) $350, 394. C) S351, 919. D) $348,999.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA S1 FVAD $1
PVAD $
11 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.0
Bill wants to give Maria a $530,000 gift in 7 years. If money is worth 6% compounded semiannually, what is
Maria's gift worth today? A) $527, 250. B) $350, 394. C) $351, 919. D) $348,999.
Transcribed Image Text:Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA S1 FVAD $1 PVAD $ 11 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.0 Bill wants to give Maria a $530,000 gift in 7 years. If money is worth 6% compounded semiannually, what is Maria's gift worth today? A) $527, 250. B) $350, 394. C) $351, 919. D) $348,999.
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