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A professional soccer player has a deferred compensation annuity that pays her $ 2 , 6 0 0 at the end of each month for

A professional soccer player has a deferred compensation annuity that pays her $

2, 600

at the end of each month for

8

years. If the annual interest rate is

5 %

compounded monthly, find the present value of the annuity.

(

Round your answer to the nearest cent.

)

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