You have been paying a vendor $140 every year, for several years, for a special service. Recently, the vendor had a special offer that you can buy two years of service if you pay $225 today. What would be the return on your money (monthly compounding) if you took the offer?
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Answer for 06/30/2014 problem:
(N=360,I=8,PV=0,PMT= -300) FV= 447,107.83