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Present Value Discounted Back 5 Years

What's the present value of $1,525 discounted back 5 years if the appropriate interest rate is 12%, compounded monthly?

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What's the present value of $1,525 discounted back 5 years if the appropriate interest rate is 12%, compounded monthly?

Frequency= M Monthly
No of ...

Solution Summary

The solution calculates the present value of $1,525 discounted back 5 years.

$2.19