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What's the present value of $1,225 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly? Select the correct answer. a. $913.58

What's the present value of $1,225 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly?

Select the correct answer.

a. $913.58

b. $918.98

c. $908.18

d. $902.78

e. $924.38

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