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What's the present value of $1,250 discounted back 5 years if the appropriate interest rate...

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Accounting

What's the present value of $1,250 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly?

Select the correct answer.

a. $928.92
b. $922.32
c. $926.72
d. $933.32
e. $931.1

Answer & Explanation Solved by verified expert
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