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Jaspreet set up a fund that would pay her family $4,000 at the beginning of every month, in perpetuity. What was the size of the

Jaspreet set up a fund that would pay her family $4,000 at the beginning of every month, in perpetuity. What was the size of the investment in the fund if it was earning 5.50% compounded semi-annually?

Round to the nearest cent

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