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today (the first $60,000 will come 45 years from now). If your discount rate is 5%, compounded annually, and you plan to live for 15

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today (the first $60,000 will come 45 years from now). If your discount rate is 5%, compounded annually, and you plan to live for 15 years after retiring (so that you will get a total of 16 payments, including the first one), what is the value today of Canada Pension Plan's promise? The value today of the Canada Pension Plan's promise is $ (Round to the nearest dollar.)

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