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For the following ordinary annuity, determine the size of the periodic payment. Future Value Present Value Payment Period Term of Annuity Interest Rate Conversion Period

For the following ordinary annuity, determine the size of the periodic payment.

Future Value

Present

Value

Payment Period

Term of Annuity

Interest Rate

Conversion Period

$19,900.00

1 quarter

13.5 years

10.9%

quarterly

The payment is $___.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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