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A payment of $100 is made at the end of each 4 months for 10 years. The nominal annual rate of interest is 12%, convertible

A payment of $100 is made at the end of each 4 months for 10 years. The nominal annual rate of interest is 12%, convertible every 5 months. Find the present value of this series of payments.

A) 1820

B) 1733

C) 2017

D) 1984

E) 2194

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