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How much is worth today based on a rate of ten percent

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Reference no: EM133009908

Problem 1: Jackson has an account with a FV of $1,000,000 38 years from now. How much is it worth today (PV) based on a rate of 10% that has MONTHLY compounding?

Group of answer choices

Option 1: $26,315.79

Option 2: $24,356.96

Option 3: $22,725.81

Option 4: $26,734.86

Reference no: EM133009908

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