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5. Kristen purchases an auto insurance for 7 years and will pay premium at the beginning of every half a year. The amount of her

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5. Kristen purchases an auto insurance for 7 years and will pay premium at the beginning of every half a year. The amount of her premium starts from $400 and will decrease by $20 every half a year until it reaches the level of $300. Find the present value of Kristen's insurance if the annual effective interest rate is 8%

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