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Suppose the interest rate is 8.8% APR with monthly compounding. What is the present value of an annuity that pays $88 every 6 months for

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Suppose the interest rate is 8.8% APR with monthly compounding. What is the present value of an annuity that pays $88 every 6 months for 5 years? The 6-month effective interest rate is \%. (Round to three decimal places.)

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