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Payments of $500 are received semiannually (twice per year) for 5 years. The nominal annual interest rate is 5%. What is the present value of

Payments of $500 are received semiannually (twice per year) for 5 years. The nominal annual interest rate is 5%. What is the present value of the payments today? (4) (you need to adjust nper and rate for semiannual; but the $500 cash flow is already semiannual)

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