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Jeanne has won a lottery that pays $1000 per month in the first year, $1100 per month in the second year, $1200 per month in
Jeanne has won a lottery that pays $1000 per month in the first year, $1100 per month in the second year, $1200 per month in the third year, etc. Payments are made at the end of each month for 10 years. Using an annual effective interest rate of 3%, calculate the present value of this prize.
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