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Suppose the interest rate is 9% APR with monthly compounding. Then the present value of an annuity that pays $266 every quarter for the next

Suppose the interest rate is 9% APR with monthly compounding. Then the present value of an annuity that pays $266 every quarter for the next seven years is closest to:

a.

$5482

b.

$5416

c.

$5470

d.

$5720

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