Multiple Choice
Jane won a prize: the right to receive 36 payments of $100 per month with the first payment one month from today. If money is worth 6% compounded monthly, what is the economic value of these payments three years from today?
A) $3,287.10
B) $3,933.61
C) $3,489.84
D) $3,600.00
E) $2,256.29
Correct Answer:
Verified
Correct Answer:
Verified
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