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18. Charles River Kayakers (CRK) is renting space on the Northeastern University boathouse dock to store its racing kayaks during the summer. CRK has agreed

18. Charles River Kayakers (CRK) is renting space on the Northeastern University boathouse dock to store its racing kayaks during the summer. CRK has agreed to pay $1000 per month for 5 months beginning on May 1. What is the value of the contract on January 1st of the same year? Assume a monthly interest rate of 1.5%. A) $4,440 B) $4,506 C) $4,574 D) $4,783

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