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A rental agreement requires the payment of 900 at the

A rental agreement requires the payment of $900 at the beginning of each month. What single payment at the beginning of the rental year should the landlord accept instead of twelve monthly payments if money is worth 6% compounded monthly? Interim calculations should be to 3 decimal places; final answer to the nearest cent.

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Business Management: A rental agreement requires the payment of 900 at the

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