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How much do you need to invest semiannually into an ordinary annuity earning an annual interest rate of 3.11% compounded semiannually so that you

How much do you need to invest semiannually into an ordinary annuity earning an annual interest rate of 3.11% compounded semiannually so that you will have $7,066.05 after 7 years? (Note: Your answer is a dollar amount and should include a dollar sign)

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