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For the following ordinaryannuity, determine the size of the periodic payment. Future Value $16000 Present Value - Payment Period 1 quater Term of Annuity 10

For the following ordinaryannuity, determine the size of the periodic payment.

Future Value $16000

Present Value -

Payment Period 1 quater

Term of Annuity 10 years , 6 months

Interest Rate 6.4%

Conversion Period Quaterly

The periodic payment is $ ________________.

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