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Now you want to calculate the present value of the money you will pay for...

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Accounting

Now you want to calculate the present value of the money you will pay for rent over those four years. Let's assume a monthly discount rate of 0.8%. What is the present value of the rent you will pay over the next four years?
Hint: Break down the present value calculation for each year (at t=0, t=12, t=24, and t=36). Use the present value of annuity for 12 periods. Be sure to apply the discount rate correctly for each period.

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