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Suppose the interest rate is 9% APR with monthly compounding. Then the present value of an annuity that pays $250 every three months for the

Suppose the interest rate is 9% APR with monthly compounding. Then the present value of an annuity that pays $250 every three months for the next five years is closest to: a. $3995. b. $2280. c. $3990. d. $3985.

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