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Q-3: Suppose there is an ordinary annuity consisting of four semiannual payments of $1000. Suppose we want to find the present value of the annuity

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Q-3: Suppose there is an ordinary annuity consisting of four semiannual payments of $1000. Suppose we want to find the present value of the annuity using a discount rate of 8% compounded semiannually. What is the present value of the annuity using the Algebraic Method

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