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Please provide calculation used to gain the solution. Question 16 7 pts Consider...

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Finance

imagePlease provide calculation used to gain the solution.

Question 16 7 pts Consider an insurance policy that promises to pay the holder $2,458 per month for the next 20 years. The first payment will be one month after the purchase of the policy. (This type of policy is called a term annuity.) The appropriate discount rate is an APR of 8.08%, compounded monthly What is the value of this policy? Round your answer to the nearest dollar

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