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4. A bank agrees to pay Mr.Pehl $ 1,200 after three years when interest rates are compounding at 10% daily. What is the present value

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4. A bank agrees to pay Mr.Pehl $ 1,200 after three years when interest rates are compounding at 10% daily. What is the present value of this payment? For this question, please use the formula (that I required you to memorize) to represent it. You do not need to calculate the answer.

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