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What is the total prize worth to today

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You just won first place in a CUNY essay writing contest, and as your prize, you will receive $400 a month each month for the next 7 years (NOT $4,800 per year but rather $400 per month). If you can earn 8.25% per year on your money, what is the total prize worth to you today?

Reference no: EM132481852

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