The present value of an annuity that pays every three month

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Reference no: EM132012855

Suppose the interest rate is 7.1% APR with monthly compounding. What is the present value of an annuity that pays $110 every three months for five years?

(Be careful not to round any interemediate steps less than six decimal places.)

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132012855

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