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An investor deposits $400.00 in a simple ordinary annuity at the end of each six- month payment period. This annuity earns 11% per year,
An investor deposits $400.00 in a simple ordinary annuity at the end of each six- month payment period. This annuity earns 11% per year, compounded semiannually a) Find the future value if payments are made for 3 years. (Round your answer to the nearest cent.) b) Find the future value if payments are made for 30 years. (Round your answer to the nearest cent.) S c) How much interest is earned over the 30-year term in part (b)? (Round your answer to the nearest cent.)
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