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Find the present value of the following ordinary annuity. Periodic Payment Payment Interval Term Interest Rate Conversion Period $2400 1 year 5 years 99% semi-annually
Find the present value of the following ordinary annuity.
Periodic Payment | Payment Interval | Term | Interest Rate | Conversion Period |
$2400 | 1 year | 5 years | 99% | semi-annually |
The present value is
$-------
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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