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7. An ordinary annuity consists of quarterly payments of $400 for 11 years. Based on a nominal rate of 6.5% compounded annually, calculate the annuity's:

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7. An ordinary annuity consists of quarterly payments of $400 for 11 years. Based on a nominal rate of 6.5% compounded annually, calculate the annuity's: a. Present value. b. Future value

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