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If a sum of money was invested 36 months ago at 8% annual compounded monthly,

and it amounts to $2,000 today, then

P x ( 1 + [ 2/3% ] )36 = 2,000

P = 2,000 / ( 1 + [ 2/3% ] )36 = 1,574.51

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Q: What is the present value of 2000 discounted back three years if the interest rate is 8 percent compounded monthly?
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