Jane Doe plans to make twelve ​end-of-month payments of ​$17,000 each on a short term investment account. The account earns a monthly interest rate of 3​%. a. What is the present worth​ (i.e.,P0) of these​ payments? b. Repeat Part​ (a) but assuming that they are ​beginning-of-month payments.

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Chapter1: Making Economics Decisions
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Jane Doe plans to make twelve ​end-of-month payments of ​$17,000
each on a short term investment account. The account earns a monthly interest rate of 3​%.
a. What is the present worth​ (i.e.,P0) of these​ payments?
b. Repeat Part​ (a) but assuming that they are ​beginning-of-month payments.
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