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Calculate the present value of an annuity of $1,000 per month for 5 years (i.e., 60 months). The first cash flow occurs in one month
Calculate the present value of an annuity of $1,000 per month for 5 years (i.e., 60 months). The first cash flow occurs in one month from today. The relevant interest rate is 16% APR with quarterly compounding.
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