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Present value of rental payment compounded monthly

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Reference no: EM13830298

Problem:

An apartment is rented for $450 per month. Each month's rent is payable in advance. If money is worth 12% compounded monthly, what is the present value of the rent for one year?

Additional Information:

This question is basically belongs to Mathematics and it is about computing the present value of rental payment compounded monthly.

Reference no: EM13830298

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