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Patricia purchases a retirement annuity that will pay her $1,500 at the end of every six months for the first nine years and $400 at

Patricia purchases a retirement annuity that will pay her $1,500 at the end of every six months for the first nine years and $400 at the end of every month for the next six years. The annuity earns interest at a rate of 2.3% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Patricia receive from the annuity?

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