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Question 31 If you make an investment and agree to pay regular monthly payments of $300 at the end of the next twelve months, starting

Question 31

If you make an investment and agree to pay regular monthly payments of $300 at the end of the next twelve months, starting one month from today, i.e., no payment is made at the end of the first month, what is the present value of this investment if the interest rate is 7.7% per annum compounded monthly? $_________________ (two decimal places)

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