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I'm not sure if the free version of Avid will allow you to export an image sequence (which is what you called "make a jpg"). VirtualDub can do it I think.
I'd get both products since they're free and use the best from both.
The academic price for Avid Pro is $299 (it's $1600+/- retail). So if you're a student, faculty or staff you can save quite a bit.
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