SOLUTION: Your rich uncle has just given you a high school graduation present of $1,500,000. The present, however, is in the form of a 10-year bond with an annual interest rate of 3.7% compo
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-> SOLUTION: Your rich uncle has just given you a high school graduation present of $1,500,000. The present, however, is in the form of a 10-year bond with an annual interest rate of 3.7% compo
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Question 959716: Your rich uncle has just given you a high school graduation present of $1,500,000. The present, however, is in the form of a 10-year bond with an annual interest rate of 3.7% compounded annually. The bond says that it will be worth $1,500,000 in 10 years. What is this gift worth at the present time? Answer by Fombitz(32388) (Show Source):
