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Find the present value of an annuity-immediate which pays 1 at the end of each halfyear for ve years, if the rate of interest is

Find the present value of an annuity-immediate which pays 1 at the end of each halfyear for ve years, if the rate of interest is 8% convertible semiannually for the rst three years and 7% convertible semiannually for the last two years.

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