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Suppose the interest rate is 9.4% APR with monthly compounding. What is the present value of an annuity that pays $99 every 3 months for

Suppose the interest rate is 9.4% APR with monthly compounding. What is the present value of an annuity that pays $99 every 3 months for 6 years?

The 3-month effective interest rate is ____%. (round to three decimal places)

The present value is $_____. (round to nearest cent)

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