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Andy just joined a new gym and signed up for a one-year membership. Membership fees can be paid in 12 monthly payments of $60, due
Andy just joined a new gym and signed up for a one-year membership. Membership fees can be paid in 12 monthly payments of $60, due at the beginning of each month or in one payment today. If the appropriate interest rate is 9%, how much should he pay today for the annual membership?
$691.24
$636.48
$630.81
$628.01
$688.16
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