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Jonathan purchases a retirement annuity that will pay him $1,000 at the end of every six months for the first eleven years and $900 at

Jonathan purchases a retirement annuity that will pay him $1,000 at the end of every six months for the first eleven years and $900 at the end of every month for the next five years. The annuity earns interest at a rate of 4.5% compounded quarterly.

a. What was the purchase price of the annuity?

Round to the nearest cent

b. How much interest did Jonathan receive from the annuity?

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