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2. Suppose you will receive $1,000 in 4 years. If your required return rate is 6% annually, what is the present value of this amount

2. Suppose you will receive $1,000 in 4 years. If your required return rate is 6% annually, what is the present value of this amount if interest is compounded monthly? (5 points) What is the effective annual rate? (5 points)

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