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9. If money can be invested at 7% compounded monthly, find the present value of 55,300 which is due after 2 years and 11 months

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9. If money can be invested at 7% compounded monthly, find the present value of 55,300 which is due after 2 years and 11 months from today. 10. A 35,000 principal earned an interest of P8,500 at the end of 7 years. At what nominal rate, compounded annually, was it invested

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