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Find the present value on February 1 of an annuity which pays $4500 every six months for 7 years. The first payment is due on

Find the present value on February 1 of an annuity which pays $4500 every six months for 7 years. The first payment is due on the coming April 1 and the rate of interest is 6% convertible semiannually.

ANSWER = $________

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