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John purchases a retirement annuity that will pay him $1,500 at the end of every six months for the first twelve years and $300 at

John purchases a retirement annuity that will pay him $1,500 at the end of every six months for the first twelve years and $300 at the end of every month for the next seven years. The annuity earns interest at a rate of 3.2% compounded quarterly.

a. What was the purchase price of the annuity?

Round to the nearest centb. How much interest did John receive from the annuity?

Round to the nearest cent

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