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An investment will pay you $19,000 in 6 years. The appropriate discount rate is 7 percent APR, compounded daily. Assume that there are 365 days

An investment will pay you $19,000 in 6 years. The appropriate discount rate is 7 percent APR, compounded daily. Assume that there are 365 days in a year.

Required:

What is the present value?

rev: 09_17_2012

Multiple Choice

$12,484.39

$12,660.50

$12,858.92

$11,860.17

$13,108.61

Required:

What is the present value?

rev: 09_17_2012

Multiple Choice

$12,484.39

$12,660.50

$12,858.92

$11,860.17

$13,108.61

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