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A local bank advertises the following deal: "Pay us $100 at the end of each...

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A local bank advertises the following deal: "Pay us $100 at the end of each year for 12 years and then we will pay you (or your beneficiaries) $100 at the end of each year forever." Calculate the present value of your payments to the bank if the interest rate is 8.00%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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