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The Crawford Family Trust Fund will pay Emily monthly payments at the end of each month for 5 years. The first payment is 1 0

The Crawford Family Trust Fund will pay Emily monthly payments at the end of each month for

5

years. The first payment is

1000 .

Each payment after that payment is

102 %

of the prior payment. Calculate the present value of these payments at an interest rate of

9 %

compounded monthly.

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