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Bob will pay $200 next year to his parents, this amount will grow every year...

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Bob will pay $200 next year to his parents, this amount will grow every year by 2%. He will continue these payments every year for six years (six total payments) to his parents in order to pay them back for his brand new Playstation 5. What is the present value of these payments? The interest rate is 2.4%. $1161 $1188 $1624 $1249

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