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Problem 4.3: Mahpee was offered a scholarship with level monthly payments for four years. Each year the payments totaled 5,904. He was also offered a

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Problem 4.3: Mahpee was offered a scholarship with level monthly payments for four years. Each year the payments totaled 5,904. He was also offered a fellowship paying 5800 at the beginning of each year for 4 years. Compare the PV of these two offers assuming AEIR 4%

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