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What's the present value of $1,175 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly? Select the correct answer. a. $873.61

What's the present value of $1,175 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly?

Select the correct answer.

a. $873.61

b. $866.11

c. $876.11

d. $868.61

e. $871.11

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