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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 if

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? (3 points) What is the effective annual rate? (3 points)

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