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On January 1, 1980, Suzanne received a twenty-year annuity-due that paid $100 each January 1 and $300 each July 1. What was the value of

On January 1, 1980, Suzanne received a twenty-year annuity-due that paid $100 each January 1 and $300 each July 1. What was the value of this annuity on January 1, 1980, calculated using an effective rate of interest of 6%?

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