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What's the present value of $1,475 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly? Select the correct answer. a. $1,082.72

What's the present value of $1,475 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly?

Select the correct answer.

a. $1,082.72

b. $1,093.52

c. $1,089.92

d. $1,086.32

e. $1,097.12

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