Payments of $300 at the beginning of each month for 1 year are equivalent to a single
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Question:
Payments of $300 at the beginning of each month for 1 year are equivalent to a single payment of $X at the start of the year. If interest is 9.6% p.a. compounding monthly, then $X is closest to:
Select one:
A.$3,419.58
B.$3,446.94
C.$3,945.60
D.$3,330.00
Expert Answer:
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