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1. (10 points) You can buy a laptop using two alternative payment plans: A: Pay $500 today and another $500 in six months from now

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1. (10 points) You can buy a laptop using two alternative payment plans: A: Pay $500 today and another $500 in six months from now B: Pay $300 today and another $800 in one year from now If the two plans are equivalent (i.e. have the same present value) under a nominal annual interest rate of x%, compounded monthly, find the value of x

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