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The monthly rent for a townhouse is $1500 payable at the beginning of each month. The Bank interest rate is 10% compounded monthly. a) If

The monthly rent for a townhouse is $1500 payable at the beginning of each month. The Bank interest rate is 10% compounded monthly.

a) If you were to pay the rent for one year in advance, how much should you pay?

b) If you were to pay the rent once at the end of the year, how much would you pay?

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