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An investor wants to purchase a level annuity of 67 per annum payable monthly in arrear for 7 years. Find the purchase price in ,

An investor wants to purchase a level annuity of 67 per annum payable monthly in arrear for 7 years. Find the purchase price in , given that it is calculated on the basis of a nominal interest rate of 2.8 % per annum convertible quarterly

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