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Determine the current amount of money that must be invested at 9% nominal interest, compounded monthly, to provide an annuity of $9,500 (per year) for

Determine the current amount of money that must be invested at 9% nominal interest, compounded monthly, to provide an annuity of $9,500 (per year) for 5 years, starting 11 years from now. The interest rate remains constant over this entire period of time.

The current amount of money that must be invested is how much?

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