What is the present worth of one years lease payments, Microeconomics

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What is the present worth of one years lease payments

Problem

Creek side Engineering pays $3000 per month to lease its office space. If the nominal annual interest rate is 12%, what is the present worth of 1 year's lease payments?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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