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( 1 point ) Juan purchases an annuity for $ 3 9 7 0 that will make 1 6 annual payments, the first to come

(1 point)
Juan purchases an annuity for $3970 that will make 16 annual payments, the first to come in one year. If the effective rate of interest is 7.3%, how much
is each annual payment?
Payment =$
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