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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 Periodic Payment

Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months).

Present

Value

Periodic

Payment

Payment Interval

Interest

Rate

Compounding Period

$14,500

$1700

six months

4.95%

annually

The term of the annuity is ___ year(s) and ____ month(s).

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