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What is the discounted value of $991.00 paid at the end of every year for 7 years if interest is 3% per annum compounded quarterly?

What is the discounted value of $991.00 paid at the end of every year for 7 years if interest is 3% per annum compounded quarterly?

The discounted value is $____?

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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