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Solve the following problems. 1. A sum of money has a value of $3,000 eighteen months from now. If money is worth 6% compounded monthly,

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Solve the following problems. 1. A sum of money has a value of $3,000 eighteen months from now. If money is worth 6% compounded monthly, what is its equivalent value a. now? (2 marks) b. one year from now? (2 marks) c. three years from now? (2 marks)

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