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Suppose the interest rate is 8.0% APR with monthly compounding. What is the Present Value of an annuity that pays $100 every six months for

Suppose the interest rate is 8.0% APR with monthly compounding. What is the Present Value of an annuity that pays $100 every six months for five years?

The Present value of the annuity is?

Note: Be careful not to round any intermediate steps less than six decimal places

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