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You were first in line to purchase the new iphone when it was released 2 years ago. Since then, your iphone has been depreciating in

You were first in line to purchase the new iphone when it was released 2 years ago. Since then, your iphone has been depreciating in value at the annual rate of 13.5%, compounded monthly and it is now worth $579. How much did you originally pay for your iphone? (Round your answer to the nearest cent, if needed.)

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