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An advertised investment product promises to pay $471 per month for 53 months commencing in 1 month from today. If the investment earns 12.5% p.a

An advertised investment product promises to pay $471 per month for 53 months commencing in 1 month from today. If the investment earns 12.5% p.a compounding monthly, how much will the investment product cost today? (round to nearest cent; don't use $ sign or commas)

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