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What is the present value of $4,200 to be received in 5 years if the appropriate interest rate is 4.5%, compounded monthly? Group of answer

What is the present value of $4,200 to be received in 5 years if the appropriate interest rate is 4.5%, compounded monthly?

Group of answer choices

$3,422

$3,598

$3,251

$3,355

$3,602

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