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1) What is the PRESENT VALUE (PV) of $20,000.00 at 5% p.a. for Six (6) years, if the rate is compounded: (4 marks) a) annually

1) What is the PRESENT VALUE (PV) of $20,000.00 at 5% p.a. for Six (6) years, if the rate is compounded: (4 marks)
a) annually
b) semi-annually
c) quarterly
d) monthly

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