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A friend wants to borrow money from you. He states that he will pay you $3,900 every 6 months for 7 years with the first

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A friend wants to borrow money from you. He states that he will pay you $3,900 every 6 months for 7 years with the first payment exactly 7 years and six months from today. The interest rate is 6.2 percent compounded semiannually. What is the value of the payments today? Multiple Choice o $35,805.70 o $28,718.70 o $29,488.70 o $27,679.39

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