you are getting paid $12,000 a month, at the end of each working month. What is the present value of a year's salary knowing that the annual interest rate is 9%? Your employer is also offering to pay you $6,000 bi-monthly (i.e. twice a month).

What are the present values of a year of salary paid in these two differnet ways? Which one do you prefer if you want to maximize the present value of your payments?

Round your final answers to the nearest cent.