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Five Company sold merchandise to a customer. The customer signed a note agreeing to make ten monthly payments of $1,000 each beginning immediately and an

Five Company sold merchandise to a customer. The customer signed a note agreeing to make ten monthly payments of $1,000 each beginning immediately and an additional $5,000 payment in ten months. The interest rate is 12%. Determine the present value. USE Table and show your work.

$13,997

$14,092

$14,566

$14,471

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