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A bank offers a 30-year annuity with monthly payments of $221 (the first payment comes in 1 month from today). If the discount rate is

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A bank offers a 30-year annuity with monthly payments of $221 (the first payment comes in 1 month from today). If the discount rate is 7%, compounded monthly, how much should this annuity cost today? Write the answer as a number rounded to two decimals (e.g. if you get $50,66666, write 50.67 )

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