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What's the present value of $1,775 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly? Select the correct answer. a. $1,314.14

What's the present value of $1,775 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly?

Select the correct answer.

a. $1,314.14

b. $1,310.54

c. $1,312.34

d. $1,315.94

e. $1,319.54

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