Anil is paying $1200 per month to rent his apartment for one year. If interest is 4.5% compounded quarterly, what lump sum should his landlord accept at the beginning of the rent contract instead of the monthly payments?

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The Answer of Anil is paying $1200 per month to rent his apartment for one year. If interest is 4.5% compounded quarterly, what lump sum should his landlord accept at the beginning of the rent contract instead of the monthly payments?

Anil Is Paying $1200 Per Month to Rent His Apartment