Question: Question 3 - For the cash flows shown below, determine the present worth (time 0), using an interest rate of 18% per year, compounded monthly.

Question 3 - For the cash flows shown below, determine the present worth (time 0), using an interest rate of 18% per year, compounded monthly.

Month Cash Flow, $/Month

0 1000

112 2000

1328 3000

Selected Answer: $58,273 Correct

I got this correct but I was lucky and need some help with how to properly caculate this

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