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Suppose the interest rate is 9.5% APR with monthly compounding. What is the present value of an annuity that pays $90 every six months for

Suppose the interest rate is 9.5% APR with monthly compounding. What is the present value of an annuity that pays $90 every six months for seven years? (Note: Be careful not to round any intermediate steps less than six decimal places.) Question content area bottom Part 1 The present value of the annuity is $enter your response here. (Round to the nearest cent.)

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