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What's the present value of $1,540 discounted back 6 years if the appropriate interest rate is 6%, compounded monthly? a. $1,260.33 b. $1,075.39 c. $1,254.95

What's the present value of $1,540 discounted back 6 years if the appropriate interest rate is 6%, compounded monthly?

$1,260.33

$1,075.39

$1,254.95

$1,100.97

$1,098.14

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