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The future value of an annuity is $ 1 0 , 0 0 0 . The annuity requires semiannual payments. If the annual interest rate

The future value of an annuity is $

10, 000 .

The annuity requires semiannual payments. If the

annual interest rate is

12 %

and the periodic

(

semiannual

)

payment is $

272,

for how long will

you have to put money into the annuity to receive $

10, 000 ?

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