You will be paid $898 in year 9. How much would that amount be worth in terms of dollars in year 3? The interest rate is 3%, and compounding is annual.

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
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You will be paid $898 in year 9. How much would that amount be worth in terms of dollars in year 3? The interest rate is 3%, and compounding is annual. 

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