Jasmine won a prize: the right to receive 36 payments of $100 per month with the first payment one month from today. If money is worth 6% compounded monthly, what is the economic value of these payments one year from today?
A) $3287.10
B) $3933.61
C) $3489.84
D) $3600.00
E) $2256.29

Question

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The Answer of Jasmine won a prize: the right to receive 36 payments of $100 per month with the first payment one month from today. If money is worth 6% compounded monthly, what is the economic value of these payments one year from today?
A) $3287.10
B) $3933.61
C) $3489.84
D) $3600.00
E) $2256.29

Jasmine Won a Prize: the Right to Receive 36 Payments