an amount of 2000 is due in three month .what is present value if it includes simpl intrest @8%
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Future value = Present Value (1+i)^n.
So,
2000=Pv(1+0.08)^3
2000/(1.08)^3=Pv
Pv=2000/1.2597
Pv=1587.67.
So,
2000=Pv(1+0.08)^3
2000/(1.08)^3=Pv
Pv=2000/1.2597
Pv=1587.67.
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