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A financial contract offers to pay 2,400 per month for 4 years with the first payment made immediately. Assuming an annual discount rate of 5.5%,

A financial contract offers to pay 2,400 per month for 4 years with the first payment made immediately. Assuming an annual discount rate of 5.5%, compounded monthly the present value of the contract is closest to:

A. E61,330.

B. E63,731.

C. 103670 euros.

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