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3. Find the present value of an annuity-due with payments of $1,800 every 6 months for 8 years at a nominal rate of interest of

3. Find the present value of an annuity-due with payments of $1,800 every 6 months for 8 years at a nominal rate of interest of 5% per annum compounded semian- nually. Answer: $24,086.48

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