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Assume you receive $60,000 in five years and the annual interest rate is six percent. Using the present value formula, how much is that worth

  1. Assume you receive $60,000 in five years and the annual interest rate is six percent. Using the present value formula, how much is that worth in today's dollars (rounded to the nearest dollar)?

a.$42,000

b.$78,000

c.$44,835

d.$60,000

e.None of the answer choices is correct.

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