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A husband and wife plan to save money for their daughter's college education in 7 years. They decide to purchase an annuity with a semiannual

A husband and wife plan to save money for their daughter's college education in

7

years. They decide to purchase an annuity with a semiannual payment earning

7 %

compounded semiannually. Find the future value of the annuity in years if the semiannual payment is $

3100 .

Round your answer to the nearest cent.

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