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Jane is purchasing a membership in a fitness centre. She can pay either $470 now or pay $160 now, $160 in nine months, and $120
Jane is purchasing a membership in a fitness centre. She can pay either $470 now or pay $160 now, $160 in nine months, and $120 in fifteen months. Which option is better if money is worth 7.7% compounded monthly? Which choice is better? XA. The choice of $470 now is better. OB. They are equal in value. C The choice of $160 now, $160 in 9 months and $120 in 15 months is better. The better choice is better than the alternative choice by $ in terms of today's dollar. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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