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What is the present value of $15,000 discounted back 8 years if the appropriate interest rate is 4%, compounded monthly? a) $10,898.03 b) $8150.51 c)

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What is the present value of $15,000 discounted back 8 years if the appropriate interest rate is 4%, compounded monthly? a) $10,898.03 b) $8150.51 c) $7413.72 d) $7090.49

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