What single sum of money should spenz pay

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Reference no: EM131461996

The Spenz Corporation has just made a big profit and wants to pay its insurance for three years in advance while it has the money to do so. Previously, Spenz has paid $120 in premiums monthly. Assuming a compound interest rate of 15%, what single sum of money should Spenz pay? (Note: the insurance payments are due at the beginning of the period of coverage)

Reference no: EM131461996

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