On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $135 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 $135 per month.

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