How much money would you have to deposit today in order to have $2,000 in four years if the discount rate is 9 percent per year? 

How much money would you have to deposit today in order to have $2,000 in four years if the discount rate is 9 percent per year? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Answer

Using Present value of single cash flow –

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If $ 1,416.85 is deposited today then it will become $2000 at end of 4 year.