Question: 10. (5 points) Maria has leased an auto for 4 years at $300 per month. If money is worth 5% per year compounded monthly, what

10. (5 points) Maria has leased an auto for 4 years

10. (5 points) Maria has leased an auto for 4 years at $300 per month. If money is worth 5% per year compounded monthly, what is the equivalent cash payment (present value) of this annuity? (Assume the payments are made at the end of each month.)

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