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Christy anticipates receiving a check for $10,000 in six months. What is the present value of this amount if the interest rate Christy could earn

Christy anticipates receiving a check for $10,000 in six months. What is the present value of this amount if the interest rate Christy could earn on short-term investments is 12 percent per year? a. Use the exact formula, with daily compounding of interest. b. Use the simple interest approximation formula. 1

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