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A 7-year indexed annuity was purchased in which the end-of-month payments start at $1850 and diminish by 0.5% per payment. If interest is 4.2% compounded

A 7-year indexed annuity was purchased in which the end-of-month payments start at $1850 and diminish by 0.5% per payment. If interest is 4.2% compounded monthly, what amount was initially paid for this annuity?

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