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Samuel purchased an annuity that had an interest rate of 2.50% compounded semi-annually. It provided him with payments of $1,000 at the end of every

Samuel purchased an annuity that had an interest rate of 2.50% compounded semi-annually. It provided him with payments of $1,000 at the end of every month for 5 years. If the first withdrawal is to be made in 4 years and 1 month, how much did he pay for it?

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