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Suppose the interest rate is 8.5% APR with monthly compounding. What is the present value of an annuity that pays $96 every 3 months for

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Suppose the interest rate is 8.5% APR with monthly compounding. What is the present value of an annuity that pays $96 every 3 months for 5 years? The 3-month effective interest rate is %. (Round to three decimal places.) The present value is $ (Round to the nearest cent.)

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