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An investor wants to purchase a level annuity of 82 per annum payable monthly in arrear for 7 years. Find the purchase price in ,

An investor wants to purchase a level annuity of 82 per annum payable monthly in arrear for 7 years. Find the purchase price in , given that it is calculated on the basis of an interest rate of 1.5 % per annum convertible quarterly.

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