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7. An annuity provides for 30 annual payments. The first payment of 100 is made immediately and the remaining payments increase by 8% per year.

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7. An annuity provides for 30 annual payments. The first payment of 100 is made immediately and the remaining payments increase by 8% per year. Interest is calculated at an annual effective interest rate of 13.4% per year. Calculate the present value of the annuity. Give your answer rounded to the nearest whole number

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