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Find the present value on February 1 of an annuity which pays $ 4 0 0 0 every three months for 5 years. The first

Find the present value on February 1 of an annuity which pays $4000 every three months for 5 years. The first payment is due on the coming April 1 and the rate of interest is 6.5% convertible quarterly.
ANSWER = $

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