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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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