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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 $89 every 6 months for

Suppose the interest rate is 9.4% APR with monthly compounding. What is the present value of an annuity that pays $89 every 6 months for 4 years?

A) The 6 month effective interest rate is

B) The present value is

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