5) Determine the present value at time 0 of payments of $1,000 at the start of...
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5) Determine the present value at time 0 of payments of $1,000 at the start of each month for 5 years, starting at time 0. The nominal interest rate convertible quarterly is 4%. 5) Determine the present value at time 0 of payments of $1,000 at the start of each month for 5 years, starting at time 0. The nominal interest rate convertible quarterly is 4%.
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