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# An insurance policy offers you a choice of $800 per month for 6 years or a lump-sum payment. What lump-sum payment would equal the monthly payments if the current interest rate is 12% compounded monthly?

An insurance policy offers you a choice of $800 per month for 6 years or a lump-sum payment. What lump-sum payment would equal the monthly payments if the current interest rate is 12% compounded monthly?

**Related Book For**

## Money Banking and Financial Markets

4th edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

ISBN: 978-0078021749

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