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Suppose the interest rate is 7.8% APR with monthly compounding. What is the present value of an annuity that pays $98 every 6 months for

Suppose the interest rate is 7.8% APR with monthly compounding. What is the present value of an annuity that pays $98 every 6 months for 6 years? The 6-month effective interest rate is? (in percentage rounded to 3 decimal places)

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