What is the discounted present value of a prize

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Reference no: EM13978249

What is the discounted present value of a prize that gives you two installments of 1000 dollars (each), if these payments are made in five and six years from now, and the interest rate is 0.05?

a) $1,467.84

b) $1,508.34

c) $1,529.74

d) $2,123.44

Reference no: EM13978249

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