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Q4. A five-year annuity of ten $7,000 semiannual payments will begin nine years from now, with the first payment coming 9.5 years from now. If

Q4. A five-year annuity of ten $7,000 semiannual payments will begin nine years from now, with the first payment coming 9.5 years from now. If the discount rate is 11 percent compounded monthly, what is the value of this annuity five years from now

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