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what is the present value of 1,000 to be received 10 years from today? Assume that the investment pays 8.5% and it is compounded monthly

what is the present value of 1,000 to be received 10 years from today? Assume that the investment pays 8.5% and it is compounded monthly (round to the nearest $1)

The answer is 429 but I don't know how to get this answer

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