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You receive $500 today and every month for the next 20 years. You will receive this payment at the beginning of the month. Assume you

You receive $500 today and every month for the next 20 years. You will receive this payment at the beginning of the month. Assume you can earn 5% on this annuity. How much is it worth? ANS: 76078.30. SHOW PROCESS.

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