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Monthly payments of $175 are paid into an annuity beginning on January 31, with a...

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Finance

Monthly payments of $175 are paid into an annuity beginning on January 31, with a yearly interest rate of 12 %,compounded monthly. Add the future values of each payment to calculate the total value of the annuity on September 1.

On September 1, the value of the annuity will be __________

(Round to the nearest cent.)

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