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How much do you need to invest semiannually into an ordinary annuity earning an annual interest rate of 3 . 1 7 % compounded semiannually

How much do you need to invest semiannually into an ordinary annuity earning an annual interest rate of

3.17 %

compounded semiannually so that you will have

6, 893.84

after

7

years?

Payment

=

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