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Determine the size of the periodic payment of the following ordinary general annuity. Present Value $1450 Payment Period 6months Term of Annuity 8years Interest Rate
Determine the size of the periodic payment of the following ordinary general annuity.
Present Value $1450
Payment Period 6months
Term of Annuity 8years
Interest Rate 7%
Conversion Period quarterly
The periodic payment is $____________
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)
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