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Question: whats the present value of 1475 discounted back 5 years...

Question details

What's the present value of $1,475 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly?

Select the correct answer.

a. $1,082.72
b. $1,093.52
c. $1,089.92
d. $1,086.32
e. $1,097.12
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