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    Exam 8: Compound Interest: Future Value and Present Value
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    What Amount 15 Months Ago Is Equivalent to $2,600, 1½
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What Amount 15 Months Ago Is Equivalent to $2,600, 1½

Question 195

Question 195

Short Answer

What amount 15 months ago is equivalent to $2,600, 1½ years from now? Assume money can earn 5.4% compounded monthly.

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