Mathematics

Naima Adams

2 June, 15:21

Your rich uncle has just given you a high school graduation present of $1,700,000. The present, however, is in the form of a 23-year bond with an annual interest rate of 6.8% compounded annually. The bond says that it will be worth $1,700,000 in 23 years. What is this gift worth at the present time?

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