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OI NEED ALL STEPS AND FULL CALCULATION 6-28 Nonannual compounding An investment pays $20 semiannually for the next 2 years. The investment has a 7

image text in transcribed OI NEED ALL STEPS AND FULL CALCULATION

6-28 Nonannual compounding An investment pays $20 semiannually for the next 2 years. The investment has a 7 percent nominal interest rate, and interest is compounded quarterly. What is the future value of the investment

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