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Benjamin knows that he will be receiving $ 1 1 7 , 2 1 1 to settle an insurance claim, but he will not actually
Benjamin knows that he will be receiving $ to settle an insurance claim, but he will not actually be paid for another months. Needing cash now, he is considering an offer from a finance company to buy this payment from him by paying him cash today. The annual simple discount rate they are offering him is How much would he receive if he takes this deal?
Round your answer to the nearest dollar.
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