Question: You work for Sam, a financial planner. Sam has tasked you with evaluating the value of a proposal he has received. The proposal is an

You work for Sam, a financial planner. Sam has tasked you with evaluating the value of a proposal he has received. The proposal is an annuity that pays $112 every 3 months for 7 years. If the appropriate discount rate is an APR of 10.3% compounded monthly, what is the value of this proposal.

present value ______

The effective interest rate for each 3-month period is

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