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Samuel purchased an annuity that had an interest rate of 3.75% compounded semi-annually. It provided her with payments of $2,000 at the end of every
Samuel purchased an annuity that had an interest rate of 3.75% compounded semi-annually. It provided her with payments of $2,000 at the end of every month for 4 years. If the first withdrawal is to be made in 5 years and 1 month, how much did she pay for it? Round to the nearest cent
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