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6. A local sales representative of a TV producer offers you a new smart TV. The deal requires 4 monthly installment payments of $150

6. A local sales representative of a TV producer offers you a new smart TV. The deal requires 4 monthly installment payments of $150 each. You have to make the first installment payment this month. If the discount rate is 3%, what is the PV of the TV today (25 points)

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