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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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