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For the following ordinary annuity, determine the size of the periodic payment. Future value : Present value: $21,400.00 Payment period: 1 month Term of Annuity:

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

Future value :

Present value: $21,400.00

Payment period: 1 month

Term of Annuity: 10 years, 6 months

Int. Rate: 7.4%

Coversion Period: monthly

The payment is $__________

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