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What is the present value of $1,500 discounted back 3 years if the appropriate interest rate is 5% compounded monthly? $564.25 $1356.78 O$956.23 $335.74 O

What is the present value of $1,500 discounted back 3 years if the appropriate interest rate is 5% compounded monthly? $564.25 $1356.78 O$956.23 $335.74 O $1293.91

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