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Assume that Social Security promises you $43,000 per year starting when you retire 45 years from...

Assume that Social Security promises you $43,000 per year starting when you retire 45 years from today​ (the first $43,000 will get paid 45 years from​ now). If your discount rate is 7%​, compounded​ annually, and you plan to live for 18 years after retiring​ (so that you will receive a total of 19 payments including the first​ one), what is the value today of Social​ Security's promise?

The value today of Social​ Security's promise is

​(Round to the nearest​ cent.)

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