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What's the present value of $1,525 discounted back 5 years if the appropriate interest rate is 6%? How do i calculate this on the financial
What's the present value of $1,525 discounted back 5 years if the appropriate interest rate is 6%?
How do i calculate this on the financial calculator?
answer should be $1,131.
My inputs are:
FV = $1,525
N = 5
I/Y = 6%
CPT PV
and I get $1,139.57
should my inputs be different because it's compounding monthly?
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