Answer
$\$ 88.72$
Work Step by Step
Recall:
Present Value Formula
$$P=A \left(1+\dfrac{r}{n} \right)^{-n t}$$
where
$A:$ Amount to be recieved after $t$ years
$P:$ Present value
$r:$ Annual interest rate
$n:$ Number of compoundings per year
$t:$ Number of years
The given problem has:
$A = \$ 100, r=0.06, t = 2$
$\text{Compounded monthly} \to n = 12$
Using the given values and the formula above gives:
$P=100 \left(1+\dfrac{0.06}{12} \right)^{-12 \times 2}$
$P \approx \$ 88.72$
