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Find the present value of the following ordinary annuity. Periodic Payment Payment Interval Term Interest Rate Conversion Period $2500 6 months 7 years 10% quarterly

Find the present value of the following ordinary annuity.

Periodic Payment

Payment Interval

Term

Interest Rate

Conversion Period

$2500

6 months

7
years
10%

quarterly

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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Periodic Payment	Payment Interval	Term	Interest Rate	Conversion Period
$2500	6 months	7 years	10%	quarterly