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If a client wants to accumulate Php 1,000,000 in 6 years, and can earn an annual interest rate of 6% compounded annually, what is the approximate present value they must invest today? (Round to the nearest peso)
Php 704,961
Php 747,258
Php 673,000
Php 841,973
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Correct Answer:
Php 704,961
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