Question: Find the present value (one period before the first payment) of an annuity-immediate that lasts five years and pays $11.00 at the end of each

Find the present value (one period before the first payment) of an annuity-immediate that lasts five years and pays $11.00 at the end of each month, using a nominal interest rate of 3% convertible monthly. Round your answer to the nearest cent.

Answer in units of dollars. Your answer must be within 0.0%

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