QUESTION $2$

What's the PV $($present value$)$ of $$2,000$ discounted back $5$ years? Using interest rate $=6\%$ and compounded monthly $($hint: monthly interest rate $=0\mathrm{.}5\%)?$

$$1,482\mathrm{.}74$

$$1,509\mathrm{.}03$

$$1,365\mathrm{.}38$

$$1,693\mathrm{.}80$