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Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months). Present Value = $14,000
Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months).
Present Value = $14,000
Periodic Payment = $2600
Payment Interval = six months
Interest Rate = 3.8%
Compounding Period = monthly
The term of the annuity is _ year(s) and _ month(s).
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