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Find the present value of an ordinary annuity with payments of $ 1 1 , 0 0 0 . 0 0 paid semiannually for 1

Find the present value of an ordinary annuity with payments of $

11, 000.00

paid semiannually for

16

years at

4 %

per year compounded semiannually.

(

Round your answer to the nearest cent.

)

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