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Determine the periodic payment for the following deferred annuity. The annuity is an ordinary annuity following the period of deferral. Deferral period Payment interval (months)

Determine the periodic payment for the following deferred annuity. The annuity is an ordinary annuity following the period of deferral. Deferral period Payment interval (months) Interest rate (%) Compounding frequency Term (years) Present value ($) 6 years 1 9.5 Semiannually 7 25,000.00

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