A friend comes to you with an investment opportunity for you to earn $600 in...
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Finance
A friend comes to you with an investment opportunity for you to earn $600 in 6 years with a guaranteed return of 7 percent. You understand time value of money calculations. Which of the following is the correct formula for computing the amount of investment needed today to make this return? PV=$600/(1+.07)6PV=$600/(1+6).07PV=$600(.076)PV=$600(1+.07)7PV=$600(1+.06)7
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