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(Exercise 3.17) Find the present value on Mach 1 of an annuity which pays $2500 every two months for 7 years. The first payment is

(Exercise 3.17) Find the present value on Mach 1 of an annuity which pays $2500 every two months for 7 years. The first payment is due on the coming April 1 and the rate of interest is 6% convertible once every two months. ANSWER = $

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