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March 29, 2017

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I have been promised a $25,000 car when i graduate in four years. If money earns 7% interest, what is my promise worth now?

  • Finance - ,

    If simple interest,
    I = PRT
    I = 25000(0.07)(4)
    I = ?

    25000 + ? (interest) = value in 4 yrs

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