58. Compute the present value of the following single amounts to be received at the end of the specified period at the given interest rate.
Invested
Interest
Number of
Item
Amount
Rate
Periods
a.
$1,500
10%
1
b.
2
c.
3
d.
4
59. If you had an investment opportunity that promises to pay you $20,000 in three years and you could earn a 10% annual return investing your money elsewhere, what is the most you should be willing to invest today in this opportunity?
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