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If you make an investment and agree to pay regular monthly payments of $500 at the end of the next twelve months, starting one month

If you make an investment and agree to pay regular monthly payments of $500 at the end of the next twelve months, starting one month from today,i.e., no payment is made at the end of the first month, what is the present value of this investment if the interest rate is 4.9% per annum compounded monthly?$_________________(twodecimal places)

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