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FINA2720.MERGED.202610 Practice with Respondus and Time Value of Money- Requires Respondus LockDown Browser

Short answer

If you receive $144 each month for 12 months and the discount rate is 0.08, what is the future value?

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Step-by-Step Analysis
To find the future value of monthly payments, we treat this as an ordinary annuity where each month you receive 144 for 12 months. The discount rate given is 0.08 per year, so we convert it to a monthly rate: i = 0.08 / 12......Login to view full explanation

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