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You have decided to buy a dinghy to sail on Cape Cod Bay. The boat builder has offered payments terms of 11 quarterly payments of

You have decided to buy a dinghy to sail on Cape Cod Bay. The boat builder has offered payments terms of 11 quarterly payments of $450. The payments will begin 1 year from today. Assuming an APR of 9% with quarterly compounding, what is the PV today of your dinghy? 1 (round to the nearest dollar)

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