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How much would you pay today for an asset that pays $1,000 per month, for 12 months, starting today if the interest rate is 5%
How much would you pay today for an asset that pays $1,000 per month, for 12 months, starting today if the interest rate is 5% APR (compounded monthly)?
| a. | $11,495 |
| b. | $11,681 |
| c. | $11,730 |
| d. | $11,964 |
| e. | $11,915 |
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Personal Finance Version 3.1
Authors: Rachel S. Siegel
3rd Edition
1453334807, 978-1453334805
