What should he pay today for the annual membership

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Reference no: EM132032476

Trey just joined a new gym and signed up for a one-year membership. Membership fees can be paid in 12 monthly payments of S60, due at the beginning of each month or in one payment today.

If the appropriate interest rate is 10%, how much should he pay today for the annual membership?

Reference no: EM132032476

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