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An annuity with a cash value of $14,500 earns 5% compounded semi-annually. End-of-period semi-annual payments are deferred for five years, and then continue for ten

An annuity with a cash value of

$14,500

earns

compounded semi-annually. End-of-period semi-annual payments are deferred for

five

years, and then continue for

ten

years. How much is the amount of each payment?

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