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Jason is to start a 6 month live - in training course in 4 months time. His father, Sam, has promised him $ 2 0

Jason is to start a

6

month live

-

in training course in

4

months time. His father, Sam, has promised him $

200

per month as support payable at the start of each month. If the interest rate is

12 %

per annum, payable monthly, how much money will Sam need today to finance Jasons allowance?

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