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

Find the present value of the following ordinary simple annuity.

Periodic Payment

Payment Interval

Term

Interest Rate

Conversion Period

663

3

months

4.5

years

11.8 %

quarterly

Part

1

The present value is

?

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