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Using time value of money method to evaluate the value of a 10-year annuity contract with immediately-payable monthly benefit of $1,000 for 10 years. If

Using time value of money method to evaluate the value of a 10-year annuity contract with immediately-payable monthly benefit of $1,000 for 10 years. If the required annual return of the investment is 7%, how much shall be the price of the annuity contract?

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