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Find the present value of the following ordinary simple annuity. Periodic Payment Payment Interval Term Interest Rate $694.00 3 months 8 years Conversion Period quarterly

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Find the present value of the following ordinary simple annuity. Periodic Payment Payment Interval Term Interest Rate $694.00 3 months 8 years Conversion Period quarterly 6% 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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