Question: Zheng contracted to write a technical manual for a client. Upon completion of the manual, he agreed to accept $220.00 at the end of each

Zheng contracted to write a technical manual for a client. Upon completion of the manual, he agreed to accept $220.00 at the end of each month for 3 years. If the payments are deferred for 15 months, and interest is 8.10% compounded monthly, what is the current value of the contract?

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