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10. What's the present value of $1,500 discounted back 7 years if the appropriate interest rate is 6%, compounded monthly? a. $1,448.53 b. $997.59 c.

10.

What's the present value of $1,500 discounted back 7 years if the appropriate interest rate is 6%, compounded monthly?

a. $1,448.53

b. $997.59

c. $988.65

d. $986.60

e. $991.68

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