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An annuity with a cash value of $ 14,000 earns 6% compounded semi-annually. End-of-period semi-annual payments are deferred for seven years, and then continue for

An annuity with a cash value of $ 14,000 earns 6% compounded semi-annually. End-of-period semi-annual payments are deferred for seven years, and then continue for nine years. How much is the amount of each payment?

Each payment is $ .

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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