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- Suppose the interest rate is 71% APR with monthly compounding. What is the present value of an annuity that pays $115 every six months

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- Suppose the interest rate is 71% APR with monthly compounding. What is the present value of an annuity that pays $115 every six months for four years? /Note: Be careful not to round any intermediate steps less than six decimal places Test The present value of the annuity is $ 1284.05. (Round to the nearest cont.)

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