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Find the present value of a 15-year annuity-immediate with semi-annual payments. During the first year the semi-annual payment amount is $100 and in each subsequent

Find the present value of a 15-year annuity-immediate with semi-annual payments. During the first year the semi-annual payment amount is $100 and in each subsequent year the semi-annual payment amount is $5 more than the previous year. Assume an interest rate of 6% p.a. compounded semi-annually.

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