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Question: 2 points a student wishes to sublet his apartment for...

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(2 points) A student wishes to sublet his apartment for 6 months, while he is away on exchange. The cost is $800 a month; payable at the beginning of each month. Suppose that the person subletting wants to make a lump-sum payment today rather than paying monthly. If the interest rate is 4% compounded monthly, how much should the payment be? The payment should be of S

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