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The annual Exercise Club membership fees of $1500 are due on January 31, 2018. Club management offers a reduction of membership fees of 18.5% p.a.

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The annual Exercise Club membership fees of $1500 are due on January 31, 2018. Club management offers a reduction of membership fees of 18.5% p.a. to members who pay the dues by January 16, 2018. How much must a member pay on January 16, 2018, if she chooses to take advantage of the club management's offer? She must pay $

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