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4. (12 pts) A rent contract starting on January 1, 2012 and ending on December 31, 2012 requires monthly phone bill of $800 with first

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4. (12 pts) A rent contract starting on January 1, 2012 and ending on December 31, 2012 requires monthly phone bill of $800 with first payment on January 1,2012 and last payment on December 1, 2012 using a nominal interest rate of 6% convertible monthly (a) How many payments are there in this annuity? (b) What is the value of this annuity on December 1, 2011? (e) What is the value of this annuity on December 1, 2012

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