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Determine the current amount of money that must be invested at 10% nominal interest, compounded monthly, to provide an annuity of $12,000 (per year) for

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Determine the current amount of money that must be invested at 10% nominal interest, compounded monthly, to provide an annuity of $12,000 (per year) for 6 years, starting 12 years from now. The interest rate remains constant over this entire period of time. a. $12, 869.35 b. $10, 832.34 c. $15, 827.51 d. $17, 313.81 e. $11, 847.43

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