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Payments of $1200 at the end of each month for the next 10 year(s) are...

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Finance

Payments of $1200 at the end of each month for the next 10 year(s) are equivalent to a single payment of $X now (t=0). If interest is 13.7% p.a. compounding monthly, then $X is (to the nearest cent, do not show dollar sign or commas eg $2,185.6323 is shown 2185.63)

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