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Jane Doe plans to make eleven end-of-month payments of $15,000 each on a short term investment account. The account earns a monthly interest rate of
Jane Doe plans to make eleven end-of-month payments of $15,000 each on a short term investment account. The account earns a monthly interest rate of 1.5%. a. What is the present worth (i.e., Po) of these payments? b. Repeat Part (a) but assuming that they are beginning-of-month payments. a. The present equivalent of the payments is $ 4246036 (Round to the nearest dollar.) b. The present equivalent of the payments is $ 0 . (Round to the nearest dollar.)
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