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Determine the current amount of money that must be invested at 3% nominal interest, compounded monthly, to provide an annuity of $14,000 (per year) for

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Determine the current amount of money that must be invested at 3% nominal interest, compounded monthly, to provide an annuity of $14,000 (per year) for 9 years, starting 12 years from now. The interest rate remains constant over the entire period of time

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