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P5-7 Present Value Compute the present value of a $1,000 deposit in year 1 and another $1,500 deposit at the end of year 3 if

P5-7Present ValueCompute the present value of a $1,000 deposit in year 1 and another $1,500 deposit at the end of year 3 if interest rates are 8 percent (assume annual compounding).

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