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Please show calculations and formulas Find the present value of a ten-year annuity which pays $700 at the beginning of each quarter for the first

Please show calculations and formulas

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Find the present value of a ten-year annuity which pays $700 at the beginning of each quarter for the first 4 years, and then $500 at the beginning of each quarter for the remaining years. The annual effective interest rate is 6%. Round your answer to two decimal places. Submit

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