Multiple Choice
What is the following prize worth today if money can earn 9% compounded monthly: $5,000 payable two years from now, and a series of eleven $100 monthly payments beginning one month from now?
A) $5,231.22
B) $7,124.26
C) $3,240.98
D) $3,265.29
E) $8,620.56
Correct Answer:
Verified
Correct Answer:
Verified
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