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A contract requires end-of-month payments of $245 for another 8 1/4 years. What would an investor pay to purchase this contract if she requires



 

A contract requires end-of-month payments of $245 for another 8 1/4 years. What would an investor pay to purchase this contract if she requires a rate of return of 1.8% compounded monthly? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Investor would pay $

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