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What is the future value of the initial deposit

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Question - What's the future value of the initial $2,000 deposit after 5 years? We assume current annual interest rate is 6%, compounded monthly.

a. $2,698

b. $2,933

c. $3,086

d. $3,633

What's the present value of $2,000 due in 5 years? We assume current interest rate is 6%, compounded monthly.

a. $1,229

b. $1,101

c. $1,322

d. $1,483

Reference no: EM132817458

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