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What is the present value of $1,000 to be received in 12 years invested at a rate of 8%? $397 $837 $1,000 $1,386 $1,586

What is the present value of $1,000 to be received in 12 years invested at a rate of 8%?

$397
$837
$1,000
$1,386
$1,586

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