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1. Find the present value of $50,000 due in 6 years at the given rate of interest. (Round your answers to the nearest cent.) (a)

1. Find the present value of $50,000 due in 6 years at the given rate of interest. (Round your answers to the nearest cent.)

(a) 8%/year compounded monthly

(b) 9%/year compounded daily

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