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What is the present value of a savings account that is expected to pay $1500 at the end of year 1 and $1200 at the end of the 3rd year. The nominal...
What is the present value of a savings account that is expected to pay $1500 at the end of year 1 and $1200 at the end of the 3rd year. The nominal rate of return is 1.5% in the first and second year and 12.5% in the third year.
