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Our company has entered into a contract with an advertising agency for monthly market research and competitive analysis reports. The contract requires us to make
Our company has entered into a contract with an advertising agency for monthly market research and competitive analysis reports. The contract requires us to make end-of-month payments of $3,275 for these on-going services. If we have excess cash available at the start of the year and want to pay upfront for the entire years services, how much should the agency accept as a single payment one month prior to the due date of the first monthly payment if money is worth 4.75% compounded semiannually?
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