Determine the current amount of money that must be invested, Microeconomics

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Determine the current amount of money that must be invested

Determine the current amount of money that must be invested at 12% nominal interest, compounded monthly, to provide an annuity of $12000 per year for 4 years, starting 11 years from now. The interest rate remains constant over this entire period of time

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Microeconomics: Determine the current amount of money that must be invested

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