On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $105 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn  6 7 8%  interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity. $   (b) Interpret the present value of the given annuity. You would have to invest a lump sum of $   now instead of $105 per month.

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