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An annuity with a cash value of $14,500 earns 7% compounded semi-annually. End-of-period semi-annual payments are deferred for five years, and then continue for eight

An annuity with a cash value of $14,500 earns 7% compounded semi-annually. End-of-period semi-annual payments are deferred for five years, and then continue for eight years. How much is the amount of each payment?

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