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A Firm sold merchandise to a customer. The customer paid $5,000 on the date of sale and signed a note agreeing to make twenty monthly
A Firm sold merchandise to a customer. The customer paid $5,000 on the date of sale and signed a note agreeing to make twenty monthly payments of $500 each with the first payment due in one month. The interest rate is 12%. Determine the present value.
$4,253
$8,735
$13,121
$14,023
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