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Suppose payments will be made for 6 1 / 2 years at the end of each semiannual period iss an ordinary annuity earning interest at

Suppose payments will be made for

6 1 / 2

years at the end of each semiannual period iss an ordinary annuity earning interest at the rate of

3.5 %

year compounded semiannually. If the present value of the anauity is $

35, 000,

what should be the size of each payment?

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