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    Present Value

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    What's the present value of $1,500 discounted back 5 years if the appropriate interest rate is 6%, compounded semiannually?

    a. $956.95
    b. $1,007.32
    c. $1,060.33
    d. $1,116.14
    e. $1,171.95

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    What's the present value of $1,500 discounted back 5 years if the ...

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    This solution is comprised of a detailed explanation to answer what's the present value of $1,500 discounted back 5 years if the appropriate interest rate is 6%, compounded semiannually.

    $2.19

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