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Chapter 5: Q. 74 (page 326)

Explain in your own words the meaning of present value.

Short Answer

Expert verified

The present value of the investment is the money you initially invest.

Step by step solution

01

Step 1. Given Information

To explain the meaning of present value.

02

Step 2. Meaning of present value

Present value is the value right now of some amount of money in the future. For example, if you are promised $110 in one year, the present value is the current value of that $110 today.

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