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LO1 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
LO1 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)?
$11,964 |
$11,915 |
$11,730 |
$11,495 |
$11,681 |
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