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Consider the following cash flows: End of Month 1 2 3 4 5 6 Cash Flow $700 $100 $1,000 $100 $700 $1,300 If the discount

Consider the following cash flows: End of Month 1 2 3 4 5 6 Cash Flow $700 $100 $1,000 $100 $700 $1,300 If the discount rate is 16 percent compounded monthly, what is the present value of the cash flows?

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