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Show your WORK Suppose the interest rate is 6.9% APR with monthly compounding. What is the present value of an annuity that pays $110 every

image text in transcribedShow your WORK

Suppose the interest rate is 6.9% APR with monthly compounding. What is the present value of an annuity that pays $110 every three months for five years? (Note: Be careful not to round any intermediate steps less than six decimal places.) The present value of the annuity is $ (Round to the nearest cent.)

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